Electricity prices just keep climbing there seems to be no end on site.
Government unveils £110 billion electricity market reforms
The Government is set to invest £110 billion in revamping the UK’s electricity generation infrastructure, according to a new White Paper from the Department of Energy and Climate Change (DECC).
At present renewables account for just 3% of the UK’s energy generation portfolio, but the White Paper on Electricity Market Reform (EMR) outlines a plan to raise this number to 30% by 2030. The wholesale reforms will look to protect the country from fluctuating oil prices by replacing nearly one-quarter of the country’s outdated power generation portfolio with new solar, wind, nuclear, gas and coal power stations. EMR will also help the UK meet its legally-binding carbon targets.
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