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…
If you are registered and logged in to the site, click on the link below to read the rest of the Allen & Overy briefing. If not, please register or sign in with your details below.
News from The Lawyer
Analysis from The Lawyer
At the time of its launch Accutrainee was described as a revolutionary change to the training model. Has it proved to be so? Not really.
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.