Ocean Energy Resources

GLOBAL NEWS SERVICE FOR THE FOSSIL AND RENEWABLE ENERGY COMMUNITIES

  • HOME
  • ARCHIVE
    • Printed Issues Offshore Magazine
    • Downloads
  • ADVERTISE WITH US
  • FREE SUBSCRIPTIONS
    • Online OER Magazine
    • Digital Newsletter
  • MUST READ ARTICLES
  • CONTACT

Report with options for electricity market reform in Great Britain

Saturday, October 8 2022

General – Electricity Market

AFRY Management Consulting has published a report summarising options for electricity market reform in Great Britain.

The report, which has been informed by a wide range of market participants, outlines a number of market design options with increasing degrees of change compared to the current market design.

The work was initiated in response to the electricity transmission operator National Grid’s programme for net zero reform, and the Review of Electricity market Arrangements (REMA) process, which was launched by BEIS in July 2022.

While further analysis will be undertaken in Phase 2 of the study, evaluation of a range of potential market designs indicates that evolutionary rather than revolutionary solutions appear more credible in delivering a decarbonised power sector by 2035. 

On electricity market reform to achieve a fully decarbonised power sector in Great Britain, AFRY Management Consulting concludes: 

• While there is a case for change, existing arrangements have had significant success in delivering decarbonisation and radical change is likely to deter the necessary investment. 

• All credible decarbonisation visions require centralised long-term contracting for renewables and flexible capacity, at least until 2035. 

• A necessary feature of any revised market arrangements will be improved operational efficiency within the wholesale energy and flexibility markets, particularly in the intraday period. 

• In the long-term, a world of state-backed long-term contracts is unlikely to be a desirable final position, and a pathway will be needed to encourage more forward contracting, retail innovation and market-led investment.  

AFRY Management Consulting also notes that electricity market reform alone is not enough; action is also needed in network investment, planning policy, retail markets, and in related areas such as carbon capture and storage as well as hydrogen infrastructure to meet the UK’s decarbonisation goals. 

Download the report here.

Related posts:

  1. Germany may become shareholder in grid operator TenneT
  2. LS Cable & System wins international bid for submarine cables connecting Wando to Jeju
  3. Menck to supply hydraulic hammers for TenneT project
  4. Offshore wind covered 8% of total electricity consumption Belgium

Filed Under: Afry, Electricity, Great Britain, International News Tagged With: Afry, electricity market, Great Britain


Read Magazine Online



Wind and Fossil Info



Event List


  • OTC Houston
    • 01/05/2023 - 04/05/2023
  • FOWT 2023
    • 10/05/2023 - 12/05/2023
  • 3rd Suriname Energy, Oil & Summit & Exhibition
    • 19/06/2023 - 22/06/2023
  • Offshore Europe Aberdeen
    • 05/09/2023 - 08/09/2023
  • Offshore Energy Exhibition & Conference 2023
    • 28/11/2023 - 29/11/2023
    • Amsterdam
  • all events

Copyright © Practica Productions - All rights reserved - 2023 cookies