The electricity markets in Great Britain are central to fostering competition and innovation, thereby benefiting consumers while providing crucial price signals that guide decisions regarding supply, demand, investment, and operational efficiency.

The Review of Electricity Market Arrangements (REMA) program is essential for the government's plan to achieve a fully decarbonized electricity system by 2035, contingent upon security of supply. Previous reforms focused on scaling up renewable energy within a fossil fuel-centric system, leading to significant reductions in emissions and advancements in renewable technologies. However, the transition to renewables necessitates evolving market arrangements to accommodate their unique characteristics and address existing market failures. REMA seeks to accelerate low carbon capacity, establish clearer decarbonization pathways for remaining fossil fuel generation, and ensure stable investment signals for a future dominated by renewables, thereby facilitating a smooth transition while maintaining security of supply.

The Full Consultation document can be found here. 

This meeting will be a feedback session to gather member's views on REMA second consultation. 

More information will be provided closer to the event.

Teodora Kaneva

Teodora Kaneva

Head of Smart Infrastructure and Systems, techUK

 

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