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Ofgem publishes assessment of locational wholesale pricing for GB

On Monday 30 October, Ofgem published a report setting out its key findings from assessing the potential impacts of introducing locational wholesale pricing in GB. The assessment looks to provide analysis and insight into how these market designs could work in GB. The report also includes a cost benefit analysis, a look into wider market and system impacts, and an assessment of the potential impact of locational pricing on consumers.

UK Parliament buildings.

Energy Act 2023 comes into force

On Thursday 26 October, the Energy Bill received Royal Assent and is now the Energy Act 2023. In a release on the same day, the government said that the Energy Act will transform the UK’s energy system by strengthening energy security, supporting the delivery of net zero and ensuring household bills are affordable in the long-term.

Image of two electricity pylons for wholesale electricity markets.

Open letter on strategic transmission charging reform published

On Monday 11 September, Ofgem published an open letter on strategic transmission charging reform. The letter sets out the regulator’s initial thinking on the future role and design of electricity transmission network charging within the wider context of fundamental system change and policy reform, such as that being considered as part of the government’s Review of Electricity Market Arrangements (REMA).