Electricity Market Reform – way off the mark?

The largest shake up of the electricity markets since privatisation is occurring and will affect all energy users. The recent report by The Energy and Climate Change Committee stresses that […]

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By The Energy Event

The largest shake up of the electricity markets since privatisation is occurring and will affect all energy users. The recent report by The Energy and Climate Change Committee stresses that ‘the big omission from the Government’s proposals is a plan for reform of the wholesale electricity market.’ Industry speakers at The Energy Event’s Insight Conference on 13-14 September at NEC Birmingham question whether the reform is on the right track.

Commenting on the Electricity Market Reform, Tim Yeo MP, Chair of The Energy and Climate Change Committee says that “The Government must go back to the drawing board and come up with a more straightforward and coherent set of plans to reform the electricity market. Radical reform of the wholesale energy market is needed to stop the Big Six from stitching it up, but at the moment Ministers are only tinkering at the margins.”

Shadow Minister for Energy and Climate Change, Huw Irranca-Davies, agrees with the report findings and the fundamental questions it poses, including: wholesale electricity market reform, the dominance of the Big Six, lack of liquidity in the market and the inherent problems of a ‘one size fits all’ policy on the Feed-In-Tariff.

Both government and industry speakers at The Insight Conference suggest that wholesale reform is one way of tackling the perceived market failure but it has to be right or we could end up worse than if we hadn’t started. The reforms have been criticised for having unnecessary mechanisms that will simply lead to higher costs for consumers and fail to raise the £110bn plus investment that is necessary over the next ten years.

At The Energy Event, the array of speakers illuminating the opaque and sometimes confusing energy markets and in particular the reforms to the electricity market include Andrew Buckley and Hugh Conway of the Major Energy Users’ Council (MEUC) who will debate the implications for purchasing strategies under the Electricity Market Reform during the afternoon sessions of The Insight Conference on Day One. Future energy challenges will also be addressed by Chris Bennett, Regulatory Frameworks Manager at the National Grid.

Robin Welsby from Celanese and Mark Callaway from Power Efficiency will add to the discussion, offering best practice in managing your energy purchasing strategy alongside other industry experts including Volker Beckers, RWE npower; David Smith, Energy Networks Association; and Dr Craig Lowrey, The Utilities Exchange.

In addition, high profile speakers offering their views on the challenges facing businesses in this current climate of uncertainty include DECC’s Chief Scientific Advisor Prof. David Mackay, Lord Digby Jones, Karren Brady and Radio 4 presenter John Humphrys.

If Electricity Market Reform affects your business, The Energy Insight conference at The Energy Event is the perfect place to inform your energy strategies. To register your place visit www.theenergyevent.com/Register.

For further press information, please contact:
Emma Letessier, Technical Publicity:
Tel. +44 (0)1582 390980, fax +44 (0)1582 390944
Email: [email protected]

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