EDF Energy supports U.K. effort to reform Capacity Market

EDF Energy CEO Vincent de Rivaz recently expressed support, on his company’s behalf, for a measure proposed by the U.K. government to reform the nation's Capacity Market, the nation's electricity-market initiative to boost low-carbon energy generation.

“The government’s proposed reforms to the Capacity Market represent an important step to ensure the U.K. continues to have a secure and affordable supply of electricity,” de Rivaz said. “EDF Energy believes that a well-functioning and technology-neutral Capacity Market is an effective policy to provide consumers and businesses with the reliable and secure energy they need. It is a key element of electricity market reform alongside measures to address the need for investment in low-carbon electricity, which include contracts for difference and a strong carbon price floor.”

EDF Energy, which provides approximately 20 percent of the United Kingdom’s electricity, is the country’s largest generator of low-carbon energy, providing the bulk of that through eight nuclear power stations, though the company also runs wind farms.

“The proposed reforms recognize the extremely challenging market conditions which are affecting the economics of power generation,” de Rivaz said. “EDF Energy welcomes the government’s continuing commitment to maintain and strengthen measures like the Capacity Market. We will carefully study all of the proposed reforms in order to engage constructively with the consultation ahead.”

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