Corporate report

Contracts for Difference and Capacity Market scheme update 2023

Annual update to Parliament on the progress made by government on the policy mechanisms implemented under the Electricity Market Reform programme.

• From: Department for Energy Security and Net Zero
• Published: 19 December 2023

This was published under the 2022 to 2024 Sunak Conservative government

Documents

Contracts for Difference and Capacity Market scheme update 2023

Ref: ISBN 978-1-5286-4619-2, E03039376, HC 392

PDF, 368 KB, 25 pages

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Details

This report carries out the government’s obligation under section 5(4) of the Energy Act 2013 to report annually to Parliament on the policy mechanisms implemented under the Electricity Market Reform programme, which closed in 2015.

The key mechanisms are:

• the Contracts for Difference scheme
• the Capacity Market
• the Electricity Demand Reduction scheme

They are designed to incentivise the investment required in the UK’s energy infrastructure and to deliver low carbon and reliable energy supplies, while minimising costs to consumers.

Published 19 December 2023