THE energy regulator today set out radical plans for safeguarding Britain’s power supplies as it warned that sticking with the current market was "not an option".
Ofgem said there was "reasonable doubt" over the security and sustainability of the country’s energy supplies amid a perfect storm of financial crisis, environmental targets, dependency on imported gas and the closure of ageing power stations.
It put forward a range of suggestions to help release the estimated £200 billion Britain may need to invest by 2020 in order to ensure future supply.
Ofgem said the most far-reaching of these would be to create a central energy buyer that would set the amount and type of new power generation needed.
