U.K. Power Costs To Rise Without Net Zero Market Reform
- Power price changes could save as much as $2.7 billion a year
- A greater share of renewable energy altering power markets
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Britain’s power market needs urgent reform to allow it to cope with coming changes like a doubling in renewable capacity feeding into the grid as the nation moves toward net zero by 2050.
That’s the conclusion of the Policy Exchange think tank who said changes like pricing electricity based on local supply rather than at a national level could save 2 billion pounds ($2.7 billion) a year.