Allen & Overy comment on government White Paper: UK Electricity Market Reform
FOR IMMEDIATE RELEASE / PRURGENT
On 12th July 2011 the Government published its White Paper "Planning our electric future: a White Paper for secure, affordable and low-carbon electricity" (the White Paper). Alongside the White Paper, the Government also published supporting documents being a UK Renewable Energy Roadmap (the Renewables Roadmap), Impact Assessments in relation to the Electricity Market Reform and the Emissions Performance Standard and a final report in relation to a review of OFGEM.
These documents follow from the Electricity Market Reform consultation launched on 16th December 2010 and the Carbon Price Support announced in this year's Budget and also refer to the ongoing Retail Market Review by Ofgem into liquidity issues and meeting the needs of independent generators and suppliers. We have previously reported on this consultation and review - copies of our reports on these issues can be accessed at www.allenovery.com
The key question in relation to the proposed Electricity Market Reform is will the proposed reforms produce a regime that is better suited to attracting the type of capital in the amounts necessary to meet the Government's aims of security of supply, decarbonisation and affordability?
In our latest briefing (also available at www.allenovery.com) we provide you with a brief synopsis of the proposals, a discussion of some of the most interesting issues which arise, more detailed summaries of the proposals and finally a summary table of the impact of the proposals for different types of generation. We hope that this briefing provides you with all you need to know. However, should you wish to consult the underlying documentation, the documents published by Government are available for download at the following locations: www.allenovery.com