Author: Publisher:
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Languages : en
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Book Description
Electricity Market Reform - Consultation on Proposed Amendments to the Supplier Obligation
Author: Department of Energy and Climate Change: Electricity market Reform: Consultation on Proposals for Implementation - Cm. 8706
Author: Great Britain: Department of Energy and Climate ChangePublisher: The Stationery Office
ISBN: 9780101870627
Category : Business & Economics
Languages : en
Pages : 294
Book Description
This consultation document seeks views on proposals for implementing the key mechanisms under electricity market reform (EMR) - the Contracts for Difference (CfDs), the Capacity Market, and associated institutional and delivery arrangements. A package of draft secondary legislation is included to help illustrate the proposals. EMR is the Government's response to the challenges facing the electricity sector: a fifth of 2011 capacity has to close over the next ten years; the need to transform the generation mix to respond to climate change and to meet legally-binding carbon and renewable targets; the expectation that electricity demand will continue to increase over the coming decades. An estimated £110 billion investment is required over the next 10 years. CfDs will provide long-term revenue stabilisation to low-carbon plant, allowing investment to come forward at a lower cost of capital. The Capacity Market will provide a regular retainer payment to reliable forms of capacity (both demand and supply side), in return for such capacity being available when electricity supply is being squeezed. The National Grid will be the delivery body for EMR. The key mechanisms will be supported by: carbon price floor, a tax underpinning the price of carbon emissions in the UK; emissions performance standard, a regulatory backstop to the amount of CO2 emissions from new fossil-fuel power stations; action to promote electricity demand reduction; Ofgem's measures to improve wholesale market liquidity. The Energy Bill currently progressing through Parliament will introduce the powers to implement EMR.
Electricity Market Reform
Author: Electricity Market Reform
Author: Great Britain: Department of Energy and Climate ChangePublisher: The Stationery Office
ISBN: 9780101798327
Category : Electric industries
Languages : en
Pages : 140
Book Description
In the coming decades we face major new challenges which require careful but far-reaching reform. Demand for electricity demand may need to double by 2050; there is a need to replace a quarter of our existing capacity by 2020; a need for power sector emissions to be decarbonised; and a need to meet the legally binding EU target for renewable energy. We also need to allow equal access to the electricity market for a wider range of technologies. The Government is now consulting on a package of options for the reform of the electricity market. The proposals are specifically designed to ensure that low-carbon technologies become a more attractive choice for investors, and adequately reward back up capacity. The proposals are four-fold: carbon price support; feed-in tariffs with long-term contracts; capacity payments; and an emissions performance standard. The consultation will run until 10th March 2011
Electricity Market Reform
Author: Great Britain: Department of Energy and Climate ChangePublisher: The Stationery Office
ISBN: 9780101849821
Category : Business & Economics
Languages : en
Pages : 48
Book Description
The Government has three objectives for energy policy - to keep the lights on, to keep energy bills affordable, and to decarbonise energy generation. Simultaneous to the publication of this policy paper the Government is introducing the Energy Bill (HC Bill 100 2012-13, ISBN 9780215050151) into Parliament to implement the key aspects of Electricity Market Reform (EMR) as well as making a wider range of reforms. The Government set out its intentions in the EMR white paper issued in July 2011 (available at http://www.decc.gov.uk/en/content/cms/legislation/white_papers/emr_wp_2011/emr_wp_2011.aspx). The Bill will drive the £110 billion of investment needed in the electricity sector by 2020, to ensure reliable, diverse and low-carbon power. With a fifth of the UK's electricity generating capacity due to close this decade these reforms are vital. Also publishing simultaneously is Electricity demand reduction consultation document (Cm. 8468, ISBN 9780101846820); Electricity demand reduction consultation summary document (Cm. 8492, ISBN 9780101849227); Annual energy statement 2012 (Cm. 8456, ISBN 9780101845625); Energy security strategy (Cm 8466, ISBN 9780101846622); and Statutory security of supply report (HC 688, session 2012-13 ISBN 9780102980691)
Electricity Market Reform
Author: Electricity Market Reform: Capacity Market
Author: Department of Energy and Climate Change: Annual Energy Statement 2013 - Cm. 8732
Author: Great Britain: Department of Energy and Climate ChangePublisher: The Stationery Office
ISBN: 9780101873222
Category : Business & Economics
Languages : en
Pages : 52
Book Description
The Annual Energy Statement 2013 sets out the government's priorities in delivering the UK's energy policies in the near term: helping households and businesses take control of their energy bills and keep their costs down; unlocking investment in the UK's infrastructure that will support economic growth; playing a leading role in efforts to secure international action to reduce greenhouse gas emissions and tackle climate change. It presents plans to make switching simpler and quicker, and a new probe into energy firms' accounts, to make them more transparent on profits and prices, as well as increasing penalties for market manipulation and regularly checking that the market is working properly
Electricity market reform
Author: Great Britain: Parliament: House of Commons: Energy and Climate Change CommitteePublisher: The Stationery Office
ISBN: 9780215559524
Category : Business & Economics
Languages : en
Pages : 318
Book Description
Over one hundred billion pounds of investment is needed by 2020 to replace the UK's aging power stations, cut carbon emissions and maintain energy security. Government proposals for Electricity Market Reform (EMR) are supposed to encourage power companies to deliver clean affordable energy. But the Energy and Climate Change Committee is concerned that the current proposals are over-complex and could fail to attract the £110 billion investment needed in electricity generation alone by 2020. It is calling on the Government to simplify its package of reforms to provide a more certain framework for investors. The starting point for EMR should be a clearly defined objective to reduce the carbon intensity of electricity generation in the UK to 50g of CO2 per kilowatt hour (KWh) by 2030. The wholesale market should be fundamentally reformed to break up the dominance of the Big Six energy companies, in order to allow new entrants to invest in the UK and improve the liquidity of the market. The long term contracts designed to encourage low carbon energy sources - known as Feed-in-Tariffs with Contracts for Difference - will work for nuclear, but different types of contract are needed for renewables and other clean technologies. The Carbon Price Support is a necessary short term solution to weaknesses in the EU Emission Trading System, but will increase costs for consumers and could provide a windfall for nuclear and renewables generators. The MPs also call on the Government to be clear about the effect that reforms will have on energy bills.
Electricity Demand Reduction
Author: Great Britain: Department of Energy and Climate ChangePublisher: The Stationery Office
ISBN: 9780101846820
Category : Business & Economics
Languages : en
Pages : 108
Book Description
The Government is putting in place policies aimed at driving down energy bills for consumers, reducing input costs for industry, cutting carbon emissions and contributing to a more competitive economy. Electricity demand reduction (EDR) measures are a crucial part of delivering potential. Already developed policies include the flagship Green Deal and new domestic Energy Company Obligation. These, together with the deployment of smart meters, are expected to reduce electricity consumption by nearly 6.5TWh by 2030. In addition, the Green Investment Bank will support access to finance and, in time, audits required under the new EU energy efficiency directive will further reduce demand. However, the Department believes that above and beyond existing policies, it should be possible to reduce demand even further. If a 10% electricity demand reduction could be achieved, this could result in electricity system costs savings in the region of £4 billion in 2030. This consultation opens up a range of options to unlock the energy savings that are currently embedded in the system and seeks views on a number of market-wide financial incentives. Publishing simultaneously to the consultation are a consultation summary document (Cm. 8492, ISBN 9780101849227); Electricity market reform policy overview (Cm. 8498, ISBN 9780101849821); Energy security strategy (Cm 8466, ISBN 9780101846622); Annual energy statement 2012 (Cm. 8456, ISBN 9780101845625); and Statutory security of supply report (HC 688, session 2012-13 ISBN 9780102980691)