Britain is facing an energy crisis National Grid or Scottish Southern Energy could play a pivotal role in Britain's future energy market, in a radical shake up outlined by energy watchdog Ofgem.
The www pandora nz regulator warned the country faces power cuts in the next five years unless the government takes greater control of the energy market to ensure future supply. Ofgem's most radical suggestion envisages either a state run organisation, or a company such as National Grid (down 51/2p at 6331/2p) and S (down 16p at 1,174p) being appointed as the nation's Buchanan added: 'It is the scale of the collapse in energy supply from 2013 up until 2017 that is profound and worrying.' Ofgem said doing nothing was now 'not an option'. It outlined a list of five potential remedies, all of which would hand greater power to the state over the current privatised energy markets. These range from raising emissions charges by setting a floor on the carbon price which would encourage companies to invest the required 200billion in new, 'greener' generation to setting up a nationalAt present carbon prices are determined by the number of emissions permits issued to large industrial polluters under the European Union's emissions trading scheme. But the economic meltdown and the reluctance of governments to pressure industry have meant carbon prices are currently too low (about Eu12.60 per tonne) to sway the investment decisions of companies to build more expensive 'green' power stations. The regulator is also believed to have significant concerns about the speed at which a new generation of nuclear power stations can be built because of health and safety concerns. French state owned power giant EDF bought nuclear generator British Energy for 12billion in 2008 and has pledged nile jewelry to build four atomic reactors. Rivals EON and RWE are also planning new nuclear stations. The government hopes at least eight will be under construction by 2015 with the first, at Hinkley Point in Somerset, due to enter service in 2017. Most watched Money videos The new Nissan Qashqai will be in the showrooms from next month Instant karma!: Thief stopped by lorry driver quick thinking Jaguar Land Rover teases the opening of its classic car tour Investing Show: Are stockmarkets too expensive? Is this the best car used advert ever? Vitara gets CGI treatment Rolls Royce showcases its bespoke capabilities in stylish car Unsettling digital safety advert will make pandra charms you think twice online The world largest luxury car Machine in Singapore Footage showing the amazing evolution of the Porsche 911 Carrera Should you worry about the election and your investments? How should investors deal with the UK election result? Investing Show: John Redwood on whether Trump can deliver Sainsbury's to buy convenience rival Nisa in 130m deal,. Daily Briefing: Possible deal as Scottish Widows in line. Jaguar Land Rover jobs drive for engineers different pandora charms who can create. MARKETS LIVE: FTSE up as David Davis begins Brexit talks. ALEX BRUMMER: Hammond must be heard 'failure to secure. Private equity giant Blackstone backs UK property by. Brexit vote fuelled 146bn betting frenzy in City amongst. Co op Bank in 'advanced talks' with investors over. Women's retailer Bonmarch suffers 40% profits fall as. Britain's holiday rental market booms as the weak pound. MIDAS SHARE TIPS UPDATE: Vital signs are improving at. A surprise surcharge AFTER you have paid it's the. Roaming may now be 'free' when you're abroad but you. 'Brexit is a lose lose proposition, harmful both to. Sainsbury's to buy convenience rival Nisa in 130m deal,. North South divide opens up in buy to let market as study.
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