TECs Chair Jo Butlin discusses the Cost of Energy Review;
On Wednesday this week, Dieter Helm’s government sponsored Cost of Energy review was published. It is a very good document.
Helm well describes the state of the UK energy market today with a history lesson in how we got here. He does not mince his words in what is wrong with how today’s market is functioning, and more importantly why it is not fit for purpose for the future.
He proposes a different approach with some radical but sensible changes. I might not agree with them all, and the focus is on the ‘what’ rather than the far more tricky ‘how’, but at their heart they articulate some clear and sensible principles:
Ultimately what Helm’s report lays out makes sense, for the market that we are already in and in providing a suitable framework for the accelerating energy market transition. The report, whilst his personal view, should be taken seriously and acted on, but its messages are not easy. It made headlines on Wednesday evening, page 17 in The Times on Thursday- let’s hope not chip paper today.
This turkey is voting.
Jo Butlin, October 2017
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