Reaction to BEIS consultation on the Review of Electricity Market Arrangements

Confirming the Review of Electricity Market Arrangements (REMA) opens the prospect of a complete overhaul of the electricity market in Great Britain for the first time in over 20 years. The scope is very wide and the perceived need for reform clear from BEIS in the consultation document, with much emphasis on security of supply, as well as delivering enduring arrangements for a net zero electricity system by 2035.

More reactions from Cornwall Insight on REMA will follow this week for subscribers including a podcast which is available to everyone here.

Related thinking

Regulation and policy

The Changing Compliance Landscape

In recent months, Ofgem has been increasing its engagement with suppliers to ensure compliance with their supply licences and to deliver more resilient business models. This has been evidenced through a number of actions, such as stress testing suppliers and introducing additional reporting requirements, under the scope of the regulator’s...

Energy storage and flexibility

National Grid ESO’s ‘early view’ winter report 2022/23

We have published an alert on National Grid Electricity System Operator's Winter 2022/23 early view report.  The ESO considers that it is important for industry to be provided with a rough understanding of the situation to come, through the early view report. It is operating under the assumption that the peak...

Low carbon generation

What’s in store? Our analysis of the co-location development pipeline

Amid underlying volatility in wholesale power prices, opportunities for access to wider flexibility revenue streams, and the impact of price cannibalisation, the case for co-location for renewable energy assets is growing. As part of Cornwall Insight’s Renewables Pipeline Tracker service, a case study is included in each report’s release based...

Commercial and market outlook

Capacity, reform, and unlawful strategies: 5 things that happened yesterday

Capacity, reform, and unlawful strategies: yesterday was a busy day for energy geekery. The developments encapsulate the shorter and longer term challenges and uncertainties present in the energy market presently: Read the full article here

Commercial and market outlook

Two thirds of energy industry professionals think the market needs to be drastically reformed

A survey conducted of over one hundred leading energy market professionals from across the investment and advisory community, by Cornwall Insight, from the attendees of its Financing Net Zero forum, has shown nearly two thirds (63%) of people working in the energy industry1 believe the UK market needs to be...

Low carbon generation

3G meets in-person| Lots discussed in our low carbon user group

Last week I took a trip to sunny central London to attend Cornwall Insight’s Green Generators Group (3G), which is the user group for our low carbon generation service. In what felt like a novelty after a two-year hiatus of face-to-face forums, I was joined by my colleagues Dan Starman...

Regulation and policy

New nuclear: BEIS consults on RAB revenue arrangements

BEIS published on 14 June its consultation on the revenue stream element of the proposed Regulated Asset Base (RAB) model to incentivise the deployment of new nuclear projects. BEIS is responsible for implementing this as legislated by the Nuclear Energy (Financing) Act 2022 which received Royal Assent on 31 March...

Low carbon generation

A collection of resources on net zero – Net Zero Week 2022

For Net Zero Week 2022, we released a range of resources to help you on your journey to net zero. For convenience, we have put them all together in a handy Resource Report. To read the full collection of resources, please log in to your account or sign up for...