Update on electricity market reform
By Chris Andrew and Mark Walker
In the next decade, a fifth of existing UK generating capacity will come offline. The Department of Energy & Climate Change (DECC) estimates electricity demand growth of 30–100 per cent by 2050.
DECC’s 2050 Pathways analysis shows that the decarbonisation of the generation sector by around 2030 is effectively a necessity for meeting the legal requirements of the 2008 Climate Change Act to reduce CO2 emissions by 80 per cent (1990–2050).
The Fourth Carbon Budget commits the UK to a 50 per cent reduction by 2027, but a 2014 review will revise up the UK carbon budget to align with the EU, if the latter is on a different trajectory…
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