Description

In 2024, the Department for Energy Security and Net Zero narrowed the proposed market changes to two main scenarios. The first is a more conservative approach: reforming the existing wholesale market by expanding long-term contracts and incentivising green capacity resources and demand-side responses. The second scenario involves locally determined wholesale electricity prices, a clear departure from the current system, where generator prices are set nationally. At the First Scottish Forum on Future Electricity Markets, over 40 participants from across a range of stakeholder groups, including consumer bodies, the energy industry, the Scottish and UK Governments, the National Energy System Operator (NESO) and representatives from the Highlands and Islands communities, discussed this and other issues which are at stake in the REMA electricity market reform process. 

You can access a scientific report from the forum here.