M

Member

Speaking in the House of Lords on 20 January 2025

Debate

Electricity Capacity Mechanism (Amendment) Regulations 2024

Contribution

I now turn to some questions and concerns. Although these amendments are designed to improve the efficiency and flexibility of the capacity market, one or two questions must be addressed. Given the removal of the 10-year approval requirement for the capacity market, how do the Government plan to ensure that long-term energy investments, particularly in low-carbon technologies and flexible capacity, are sufficiently incentivised to continue to support the transition to a net-zero energy system by 2050? Finally, with the removal of the requirement for the Secretary of State to prepare and monitor an implementation plan for the capacity market, what steps will the Government take to ensure continued oversight and transparency in the market’s operation, particularly as it evolves to address future energy challenges and technological advancements?

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