Sustainability First responds to REMA consultation
On 3 October, Sustainability First published its response to BEIS’s Review of Electricity Market Arrangements (REMA) consultation.
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Business supply and services
Elexon published its consultation response to REMA
On Monday 10 October, Elexon issued its response to the REMA consultation.
Unlocking REMA
Recent challenges have emphasised the recurring importance of the energy trilemma, namely the need to decarbonise the energy system while ensuring energy security and affordability. The government announced its Review of Electricity Market Arrangements (REMA) in April 2022 to address these issues. In July, the government published a consultation paper for REMA, presenting a number of proposed reforms.
Can REMA save the energy market?
The Energy Industry is in danger of losing its licence to operate. Rightly or wrongly, it is being blamed for increases in the wholesale costs of gas and power which are largely beyond its control. Exposure to gas prices is driven by failures to rollout energy efficiency, late delivery of new nuclear and renewables and overexposure to the continent. These factors drive and exacerbate inflation which will likely be responsible for a recession as businesses and households reduce activity and spending in response to rising energy prices.
Industry cautious about REMA, particularly around nodal pricing
With the GB market set to undergo the largest market design shake-up in a generation, Cornwall Insight has surveyed the audiences of two recent webinars to understand what the market thinks about the upcoming reform and some of the options on the table.
Can we fix the wholesale energy market this winter to lower prices and should we want to?
There’s a lot of debate on what might be done outside the energy market to relieve consumer bills. We don’t have much to add there, but we have been thinking and chatting around the place about whether temporary fixes could be made to the wholesale market design that would result in lower prices for consumers (and thus less pressure for external political intervention)