UK power execs debate $325 billion investment requirement
UK power demand is expected to double by 2050 while a quarter of its generation capacity will need replacing within 10 years. EU targets call for production from renewables to jump from 7% to 30% of total output. Vanya Dragomanovich talks to top industry executives about where the $325 billion required investment will come from
The UK power generation industry is facing exceptional times, with power demand soaring, creaking generation in need of replacement and stringent EU targets mandating greater renewables use coming on line soon.
Against this backdrop the Department of Energy and Climate Change (DECC) is preparing the UK’s electricity market reform (ERM), a set of policies designed to encourage investment in UK electricity infrastructure over the next few decades, in particular nuclear and offshore wind. The
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