To launch a capacity mechanism in Britain is the right approach to incentivise new investment for security of supply, says to Ray Tomkins, founder and director at Economic Consulting Associates.
"We have been lucky that due a combination of circumstances - such as the dash-for-gas, the investment strategy of the vertically integrated oligopoly, and more recently the recession depressing demand- that major blackouts have been avoided as private generators have 'over-invested'," he said. "This cannot be relied on in the future...
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