UK hires EMR experts ahead of draft plan
The UK government has named the panel of experts that will oversee its crucial Electricity Market Reform (EMR) plans, as it prepares to give the first indication in July of the strike prices renewable generators can expect to enjoy.
The Department of Energy and Climate Change (DECC) said the Technical Experts panel will provide independent scrutiny of its EMR Delivery Plan.
EMR is designed to create a solid base for the huge investment the UK needs to attract in a range of new generation assets – not least a massive offshore wind programme.
The strike price will underpin the renewables contracts-for-difference (CfD) mechanism, which is set to replace the current Renewable Obligation Certificate (ROC) scheme after 2017.
Investors have been desperate for some guidance on the issue, and the DECC today said the draft EMR Delivery Plan in July will contain “decisions on the strike prices that renewable technologies could attain”.
The Technical Experts Panel hired to oversee the process will be chaired by Norma Wood, described by DECC as “a seasoned international board director” who has “been intimately involved with electricity trading arrangements since she led the Strategic Review of Trading and Settlement Arrangements post privatisation”.
Its other members are: Andris Bankovskis, a specialist in electricity generation, supply and regulation; Guy Doyle, chief economist for energy and carbon at Mott MacDonald; and David Newbery, a research fellow in the Control and Power Research Group at Imperial College, London.