The energy industry's welcome for the opening of the Review of Electricity Market Arrangements' second consultation has been somewhat dampened by the UK government's coinciding support for new gas power plants.
A cost benefit assessment of locational pricing systems in Britain has found that implementing a nodal pricing system could deliver up to £51 billion in consumer savings, but benefits face regional disparities.
An independent review based on research by the University of Strathclyde has advised caution on Britain ‘rushing’ into a major wholesale electricity market reform based on locational marginal pricing (LMP).
Without reform of the market, the UK will miss its 2035 electricity decarbonisation target according to a new report from centre-right think tank Onward.
