Wider forces have wreaked havoc in global energy markets in 2021, but UK policy has caused additional complications in the UK. In this podcast, Paul Butcher, Director of Public Policy looks at:
- some of the UK specific factors that have exacerbated the crisis, including:
- greater reliance on wind
- and the role Brexit has played
- the implications of the UK’s unusually competitive energy supply market in the context of:
- the 22 energy suppliers that have gone bankrupt so far this year;
- the Default Tariff Cap for consumers; and the
- supplier of last resort regime.
Paul also discusses the first big matter he worked on as a trainee in our energy group back in 2002 – the administration of a very large UK based energy company – and some of the lessons which that has for today’s crisis.
A podcast discussion of the same issues can be found here.