SOURCE: Industrial Info Resources

Industrial Info Resources

February 10, 2010 23:00 ET

Radical Changes Proposed for U.K. Energy Market, an Industrial Info News Alert

GALWAY, IRELAND--(Marketwire - February 10, 2010) - Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) -- Energy companies could be facing a much stricter trading environment in the U.K. if the country's energy regulator, Ofgem, follows through on a series of radical market proposals. The regulator has voiced concerns that the U.K.'s energy supplies will be in crisis within five years because energy companies are not investing enough to safeguard supplies. As a result, Ofgem's Project Discovery report has proposed a radical shake-up that includes greater obligations on suppliers, the introduction of capacity tenders, replacing Renewables Obligation Certificates (ROCs) with longer-term obligations to encourage more renewable investment, and even the re-introduction of a central energy buyer.

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