Back to the Future: Electricity Market Reform Update

The Government has published what is called a “technical update” to its electricity market reform White Paper. This Comment by Malcolm Keay analyses the new proposals and their implications. Many important questions about the new system remain unanswered, but the overall direction is clear – towards a planned electricity system whose function is to deliver the Government’s policy objectives. Having been a pioneer of liberalisation in electricity, the UK will now be a pioneer of post-liberalisation, with radical consequences for consumers and investors and for the governance of the industry