The energy regulator has issued a new and more alarming warning about the potential for blackouts, saying Britain’s spare capacity margin could dwindle to zero as early as next year.
The prediction from Ofgem has forced the infrastructure operator, National Grid, to consult on another round of subsidies to encourage companies to keep open power stations, a move which is likely to further raise household energy bills.
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National Grid, whose role involves ensuring the lights stay on, has now said it wants to talk to power companies about what sort of new subsidy regime it needs to put in place to raise capacity margins in 18 months time.
Ok, I guess I get it, it means a surcharge to fund "just in case" capacity unrelated to actual use by customers. But through the magic of the market shouldn't they be able to keep the plants open and pass a much smaller insurance cost on to customers? No? Bueller?