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GLOSSARY

EMR definition

Published by a LexisNexis Energy expert

What does EMR mean?

Electricity Market Reform: The programme of reform to the wholesale electricity market initiated by the white paper Planning our electric future: a White Paper for secure, affordable and low-carbon electricity published in July 2011. The EMR proposals have altered during the process of consultation and pre-legislative scrutiny, but the four key proposals are: (a) the introduction of contracts for difference (CfD) Feed-in Tariffs to replace premium Feed-in Tariffs for medium to large-scale renewable energy generating stations, including nuclear, under which a generator will enter a long-term contract based on a pre-determined "strike price" and will receive variable payments to ensure it receives the agreed tariff; (b) a Capacity Market through which the total amount of back-up capacity needed to ensure security of supply will be bought through a central competitive auction conducted by the National System Operator a number of years in advance; (c) an Emissions Performance Standard to apply to all new fossil fuel power stations over 50MW which will place a limit on the amount of CO2 emitted to a maximum of 450gCO2/kWh; and (d) a Carbon Price Floor (introduced

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Gas peaking projects—what are they and what key subsidy/support regimes are available to them?

Gas peaking projects—what are they and what key subsidy/support regimes are available to them? Author: James Todd. With thanks to David Cruickshank and Jamie Dunne Introduction and scope The purpose of this Practice Note is to: • introduce the ‘gas peaking’ projects becoming increasingly prevalent in the Great Britain (GB) electricity generation market, and • set out the key subsidy/support regimes that are making such projects attractive to developers and, where appropriately structured, suitable for project financing For more information on key project financing issues relating to gas peaking projects, see Practice Note: Gas peaking projects—key project issues relevant to project financing. This Practice Note considers gas peaking in the GB energy market and does not take account of the distinct position in Northern Ireland. What is ‘gas peaking’? In broad terms, peaking technology refers to any form of technology which generates electricity at times of peak demand or when there is scarcity of supply. This note is of particular relevance to sub-20 megawatt electric (MWe) gas peaking plants...

Industry Bodies and Codes—Great Britain Electricity and gas market

Industry Bodies and Codes—Great Britain Electricity and gas market Industry Bodies In March 2024, the Department for Energy Security and Net Zero (DESNZ) and Ofgem launched a consultation on code reforms with a view to increasing strategic changes across the codes in the interest of consumers. For more information, see: LNB News 11/03/2024 48. In August 2024, Ofgem published its decision on the implementation of energy code reform following that consultation, setting out its and DESNZ’s intended next steps. Further, in October 2024, DESNZ and Ofgem published their joint response to the March 2024 consultation. For more information, see: LNB News 08/10/2024 38. Body Description Electricity Settlements Company Ltd (ESC) The ESC is the Capacity Market ‘Settlement Body’, responsible for administering capacity payments to, and penalty payments from, those who are subsidised by the Capacity Market. In addition, as part of this role the ESC administers the payments from licensed electricity suppliers which fund the payments the ESC makes to those subsidies by the Capacity...

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