Todd Gillespie, Bloomberg News
LONDON
EnergiesNet.com 04 27 2022
The U.K.’s energy regulator Ofgem will investigate how local energy markets can cut costs and reduce the environmental impact of powering the country.
The energy crisis and the war in Ukraine is driving up living and manufacturing costs in Britain. Overall, the average family will be 1,100 pounds ($1,433) worse off over the next 12 months, according to the Resolution Foundation.
“New local markets could play a bigger role in future to balance power supply and demand flexibly and reduce the need for building expensive new grid capacity,” the regulator said in a statement on Tuesday.
The regulator have identified gaps in the current arrangements and a lack of co-ordination which could add unnecessary costs to customers. The current arrangements are largely dependent on regional electricity distribution network operators.
Ofgem is looking for input from industry and local authorities on potential models of how the market could work. Those could involve reforming the roles of network operators or the creation of new independent bodies separate from them.
bloomberg.com 04 26 2022
