On Wednesday 28 June, the REA (Association for Renewable Energy and Clean Technology) published its Review of Electricity Market Arrangements (REMA) report, Enabling a secure, flexible, and decarbonised electricity market fit for the future. The report emphasises the importance of building on existing market mechanisms that are understood and trusted by developers and investors, rather than radically changing the market by pursuing other proposals, such as a split market. The report makes recommendations on how existing market mechanisms, the Contracts for Difference and Capacity Market, could be adapted to better reward flexibility and firm contracts.
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