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The Reform of the UK Electricity Market Summit: analysing the white paper's proposals and implementation challenges for electricity maket participants

Start Date:06 Sep 11 

Date: 6th September 2011
Time: 08.30–17.10
Venue: Copthorne Tara Hotel London Kensington
Cost: Private sector: £420 + VAT; public sector: £250 + VAT (these include the 15% discount for Low Carbon Economy users)

The Reform of the UK Electricity Market Summit: analysing the white paper's proposals and implementation challenges for electricity maket participants is being held shortly after the publication of DECC's white paper, which is due to be published in the summer.

The UK's electricity market is facing an unprecedented investment challenge. Even as energy efficiency is improved, demand is set to double by 2050, but our existing capacity is ageing rapidly and a quarter of it needs to be replaced by 2020. At the same time, the power market needs to lead the decarbonisation of the economy and 30% needs to come from renewable sources (up from 7% today). While gas-fired generation is currently the lowest cost and lowest risk investment, the government wants to reform the market so that there is equal access to the electricity market for a wider range of technologies, such as wind, nuclear power and CCS. The shape of this proposed reform was set out in the government's December 2010 consultation document and will be presented in more definitive form in the white paper, which will, of course, factor in the responses received during the consultation process.

In addition to the white paper, HM Treasury has published proposals to set a price floor for carbon, designed to give certainty to investors in low-carbon generation. Ofgem's review into the liquidity of the electricity market is also a key part of the overall reforms.

Investment of around £200 billion is required in generation, electricity networks and gas infrastructure. Of this, at least £110 billion will be needed in new generation and transmission assets in electricity – over double the rate of the last decade. In a world of global competition for capital, this means increased investment by existing market participants and, in addition, seeking investment from new sources of capital.

Please download the brochure for more information.

Please note that special discount rates are available for Low Carbon Economy users: private sector: £420 + VAT; public sector: £250 + VAT. To book your place at the special discounted rate please download the brochure from the bottom of this page, complete and return to City & Financial by post, fax or email, or send an email to Paul Hooper with your full contact details, dietary requirements and chosen payment method. Please also quote LCE to gain discounted rate.

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