UK should reform its electricity markets to attract investment
BRITAIN must reform electricity markets if it is to secure the private investment needed to meet its carbon emissions targets, according to a study by KPMG.
The report, out today, said the government’s investment in low-carbon generation was inconsistent and clearer planning was needed to show how emissions targets will be met.
“Nuclear represents the least cost low-carbon electricity generation; however, our research indicates that radical changes to the current electricity market will be required to secure the large scale private sector investment required for nuclear new build to proceed,” said Richard Noble, power and utilities partner at KPMG.
Britain has committed to a 34 per cent reduction in greenhouse gas emissions from 1990 levels by 2020.