UK business and energy minister Kwasi Kwarteng
UK consults on major power market reform
Government eyes biggest overhaul of wholesale market for 20 years to support transition goals and break price link with gas
The UK government is consulting on a top-to-bottom redesign of the country’s wholesale electricity market aimed at better equipping it for the transition and tackling the energy affordability crisis by breaking the price link between power and natural gas. The scope of the initial consultation on the Review of Electricity Markets (Rema), which would be the biggest policy intervention in the market for 20 years, covers multiple aspects of the wholesale market from pricing to capacity markets, contracts for difference and balancing services. It also floats the idea of introducing incentives for consumers to draw energy from the grid at cheaper rates when demand is low or when wind and solar ge
Also in this section
29 April 2025
Spain’s unprecedented blackout highlighted the risk for green hydrogen producers with exposure to Europe’s creaking power grids
24 April 2025
Liverpool Bay project on track for 2028 startup as Italian energy company reaches financial close with government for CO₂ transport and storage network
21 April 2025
Agreement on a two-tier emissions trading scheme does not go far enough to meet IMO GHG reduction targets, say observers
11 April 2025
As the global economy grows, demand for materials is expected to increase. The way materials are made could incorporate new technologies in the future to ensure economic growth is more sustainable
