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)
As we strive for net zero and to wean ourselves from gas, BEIS’s new Review of Electricity Market Arrangements (REMA) promises the biggest overhaul in the wholesale power market for a generation.
On 18 July, the government opened its consultation on the Review of Electricity Market Arrangements (REMA) in which it aims to identify reforms needed to ensure electricity market design is fit for the purpose of maintaining energy security and affordability for consumers as the electricity sector decarbonises.
Having alluded to the need for electricity market reform in several policy documents over the last few years, and following a commitment made in its April Energy Security Strategy, on 18 July the government published its Reform of Electricity Market Arrangements (REMA) consultation.
On Monday 18 July, the UK government opened its consultation on the Review of Electricity Market Arrangements (REMA). Here is the latest update: If you… Read More »Video | REMA update: Review of Electricity Markets Arrangements
With power prices expected to remain high for the foreseeable future and increasing challenges to our energy supply, the energy trilemma – the need to deliver net zero while preserving our security of supply in a way affordable to consumers – is taking centre stage once again.