News
18 Jul 2022
• 1 minute read
UK electricity market reform to ease pressures
The UK’s exposure to volatile global gas markets and energy costs from consumers could be reduced significantly in the long term thanks to a review into Britain’s electricity market design launched today.
The Review of Electricity Market Arrangements (REMA) will seek views on a range of options to address the combined challenges of responding to higher global energy costs, the need to boost energy security and move to a cleaner energy system.
ECA is working to represent the electrotechnical and engineering services industry in its key asks to Government – learn more about these by visiting the ECA Taking Action website here.
Some of the changes consulted include:
- Introducing incentives for consumers to draw energy from the grid at cheaper rates when demand is low, or it is sunny and windy.
- Reforming the capacity market so that it increases the participation of low carbon flexibility technologies, such as electricity storage, that enable a cleaner, lower cost system
- De-coupling costly global fossil fuel prices from electricity produced by cheaper renewables, a step to help ensure consumers are seeing cheaper prices because of lower-cost clean energy sources
The consultation will explore ways of updating this pricing system to further reflect the rise in cheaper renewable electricity - something that could have a direct impact on reducing energy costs, allowing customers to reap the full benefits.
ECAtoday
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ECA pays tribute to Paul McNaughton
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Green light for Domestic Electrician Apprenticeship
23 Mar 2022
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Gov’t answers ECA’s call for 0% VAT on renewables
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ECA joins calls for unprecedented action on energy prices in Spring Budget
22 Mar 2022
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Join the ECA Learning Zone with Revizto!
21 Mar 2022
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Gov’t extends plug-in van and truck grants
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New hard hats to include MIPS technology
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BEAMA launches Net Zero systems report
16 Mar 2022
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First new-style pylons installed in UK
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Actuate UK and Energy Systems Catapult boost green skills
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ECA champions green careers
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Sylvania chooses EDATA
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IFSEC Global publishes Annual Fire Safety Report
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ECA asks Europe to focus on Green Deal
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ECS highlights crucial upskilling role
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SkillELECTRIC 2022 open for entries
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New Solar Energy UK report on attitudes to solar
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CO2nstruct Zero continues to grow
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HSE issues safety notice on UPS
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02 Mar 2022
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UK’s largest gas-free homes scheme breaks ground
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