On Monday 8 January, Ofgem issued a consultation on its Ten-Year Review of the Capacity Market (CM) Rules. Specifically, the regulator is seeking input on the appropriateness of the CM’s intended objectives, which include the promotion of investment in capacity to ensure security of electricity supply and the facilitation of the efficient operation and administration of the CM. Ofgem is also seeking views on whether the CM Rules continue to meet the objectives; whether they could be met with less administrative burden; and if there are specific rules that should be investigated in the future. For clarification, the regulator is not seeking views on specific change proposals, as the standard CM Rule change process will proceed as a separate process. Views are sought by 19 February, and Ofgem expects to publish the Ten-Year Review by 1 August 2024.
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