Review of energy market would create uncertainty, UK associations warn

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The cost of electricity will inevitably rise for consumers if plans for a drastic overhaul of the market go ahead, say three major trade associations representing over 800 renewable energy companies.

The plans, called “‘Locational Marginal Pricing”, are being considered by Government and energy regulator Ofgem as part of a wide-ranging review of the electricity market. The scheme would mean that the wholesale price of electricity would vary across Great Britain. The country would be split up into different regions, or even into hundreds of different zones based on post codes. Prices would be based on local supply and demand, as well as how close power stations are to consumers. However, some analysts say the scheme could increase the cost of reaching... ... More: Official Press Release (RenewableUK, Scottish Renewables, Solar Energy UK media release

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RenewableUK, energy market, investor, consumer, market, trade association, government, UK, electricity