The CBI responds to the Review of Electricity Market Arrangements consultation, which kick-starts reforms that will enable a low carbon electricity system.
Overview of the Review of Electricity Market Arrangements
The business community welcomed the publication of the British Energy Security Strategy in April 2022 which set a bold ambition for key low carbon technologies and the intention to undertake market reform to deliver a net zero electricity system by 2035.
The Review of Electricity Market Arrangements, or REMA, aims to establish enduring market arrangements that can deliver a high renewable, low carbon electricity system in a cost-efficient way.
The UK government have set a legally binding target to achieve net zero by 2050, underpinning this target is the delivery of a resilient and affordable net zero electricity system by 2035. The energy transition will require a once-in-a-generation change, a shift from a high carbon, dispatchable system to an increasingly low carbon system. Delivering a secure, cost-effective transition will require significant volumes of private investment in infrastructure at pace and scale over the next decade.<
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