UK Energy Policy Debate: Reform of Electricity Market Arrangements



10:00 - 13:30 UK Time

CMS, Cannon Place, 78 Cannon Street, London EC4N 6AF

Non-Member: £90.00 (excl. VAT)
Member: £45.00 (excl. VAT)

This July our Energy Policy Debate is back exploring the 'Reform of Electricity Market Arrangements'. This timely debate looks at the Review of Electricity Market Arrangements (REMA) and the considered changes to UK wholesale electricity markets.

These changes could impact cost and reliability for customers, returns for investors and even new investments in energy systems. Given further consultation is due in Autumn 2023 and the high stakes involved, this controversial topic is pressing.

Join us in person for this timely discussion.

Please note that bookings close on 12 July at 17:00 BST.



10.00  Registration, tea and coffee

10.30  Welcome from chair | Paul Spence, Director of Strategy and Corporate Affairs, EDF Energy

10.40  Industry perspectives | Emma Pinchbeck, Chief Executive Officer, Energy UK

10.55  Demand side participation and locational pricing | Rachel Fletcher, Director Regulation and Economics,  Octopus Energy

11.10  Investor and asset owner perspectives | James Samworth, Partner, Schroders Greencoat

11.25  Panel session | Speakers TBC

12.30  Closing remarks from the chair | Paul Spence, Director of Strategy and Corporate Affairs,  EDF Energy

Followed by a buffet lunch and networking


James Samworth

James Samworth

Partner, Schroders Greencoat

Emma Pinchbeck FEI

Emma Pinchbeck FEI

Chief Executive Officer, Energy UK

Rachel Fletcher FEI

Rachel Fletcher FEI

Director Regulation and Economics, Octopus Energy

Paul Spence

Paul Spence

Director of Strategy and Corporate Affairs, EDF Energy

At its launch, the Review of Electricity Market Arrangements (REMA) was described by the UK Government as the “biggest electricity market reform in a generation” It was formally announced in the Energy Security Strategy published on 7 April 2022.

REMA will consider the changes to wholesale electricity markets required to achieve decarbonised power sector in 2035 (subject to security of supply) – this will require a massive reduction in gas use.

After a consultation in July 2022, DESNZ published a summary of responses on 7 March 2023, which ruled out only a few options.  Further consultation is expected in Autumn 2023.

The REMA programme is likely to be taken forward by the next Government after the General Election.

The highest profile issue politically remains decoupling power prices from gas prices; other hot topics for the industry include locational pricing, wholesale market liquidity and the design and scale of low-carbon support mechanisms.

The possible changes have huge implications for new investment into the energy system, the cost and reliability of the supply of energy to customers and the returns for existing and future investors.

The interactions with current arrangements are complex and there are risks of intended and unintended consequences

The high stakes mean that the topics attract strong – and sometimes opposing – views which we will aim to explore with panellists during this important and timely debate.