UK energy market reform: ESNZ Committee opens oral evidence
We can now all see positive headlines about how the price of renewable energy is dropping, and how much more we’re generating, in the UK and all around the world.
But frustratingly, we also hear how our persistently high UK energy bills are still being set by gas, using the “marginal price” system, and so subject to geopolitical shocks.
Why is this, and what can we do about it?
Meeting details
At 9:15am: Oral evidence
Inquiry
Reviewing the electricity market
Partner at LCP Delta
Energy Strategy and Policy Expert at Energy Systems Catapult
Research Fellow at UCL Centre for Net Zero Market Design
At 10:15am: Oral evidence
Inquiry
Reviewing the electricity market
Senior Managing Director at FTI Consulting
Head of Commercial Asset Management at Ocean Winds UK
Director at UK Energy Research Centre (UKERC)
On Wednesday 24 June the Committee turns to oral evidence on the Government’s decision last year to proceed with reforming the system of national electricity pricing, rather than moving to a system based on locational marginal prices.
- Can a reformed national system send the right signals for siting infrastructure and matching supply with demand?
- Will it be fit for purpose to drive the transition to renewable energy?
- Is the current direction of reform to the existing system sufficient to deliver meaningful change by 2030?
- Are current policy levers, like network charges and grid connections reform, enough to drive efficient siting decisions by the market - or do we need a bigger role for central planning?