Britain recently unveiled a menu that included many proposals for sweeping policy’s which could help the government with nationalizing the energy sector with the main aim of meeting renewable energy portfolio standards as well as to attract more frequent investment in the supply of energy over the next 10 years. These proposals, which were made public on Wednesday by Ofgem (Office of gas & electricity markets) were aimed at going head on with the two problems of meeting a, close to, $317 billion cost for investment in energy & for doing this without letting the European Union’s 20% renewable energy source target by 2020 be harmed. Chris Lock, spokesman for Ofgem said, “This is indeed going to be very difficult keeping in mind the current market and there is reasonable doubt that the markets are not going to be able to deliver both the targets as well as the required investment.”

The most fanatical proposal has a central energy buyer being created for energy in the British market. This agency is going to get the needed power for determining the amount & type of fresh electricity generation that is needed & also enter into contracts that would ensure that it is delivered.

Between these two market incentive extremes such as creation of carbon floors & appointing a central energy buyer, Ofgem also suggested many immediate measure such as making energy providers prove that they will be able to meet demand with their supply. All of these measures can now be commented on by the public. Irrespective of the option that Britain finally chooses it seems like both public & private sectors agree that they cannot consider doing nothing.