Review of Electricity Market Arrangements (REMA): Second Consultation Launched

12/03/24 | Reaction

The UK Government today (March 12) launched its latest consultation on the review of electricity market arrangements (REMA). 

Claire Mack, Chief Executive of Scottish Renewables, said:  

“Reforming our electricity market is crucial to paving the way for a cleaner, cheaper and more secure renewables-based energy system.  

"Market reform must be compatible with delivering the billions of pounds worth of investment needed to enable the delivery of Scotland’s home-grown clean energy projects.  

“While we are pleased nodal pricing has been ruled out by the UK Government, zonal pricing continues to pose a threat to investment and our ability to deliver cheaper bills for consumers as part of a successful clean energy transition. 

“The next decade is crucial for the UK Government’s 2035 decarbonisation target, and Scotland’s renewable energy industry is already working at pace to deliver a huge pipeline of projects. However, a stable and predictable policy environment must be prioritised to secure the scale of investment required to realise this potential. 

“We therefore urge the UK Government to focus on developing a progressive package of reform which builds on the strong foundations of the current system. The alternative is implementing radical market reform which would undermine Scotland’s renewable energy ambitions to the detriment of consumers and the wider economy.   

“Alongside reforming our energy market so that it is fit for the twenty-first century, the UK Government must also seize the opportunity of truly achieving energy security by boosting energy storage capacity and accelerating new transmission infrastructure.” 

  • Review of electricity market arrangements (REMA): second consultation, available from the UK Government