Cost of Energy Review: Dieter Helm, October 2017

The Cost of Energy Review by Professor Dieter Helm, published in October 2017, is a remarkable achievement, if only for the speed of its production. Written in little over two months, it nonetheless provides a clear overview of the UK electricity sector, along with radical proposals for reforming the system. However, it is not clear whether it will in practice provide a blueprint for the future. The Review did not benefit from the usual process of consultation and evidence gathering, which took place only after its publication. Its recommendations are essentially personal - many seem either unrealistic or controversial. The Review's main contribution may therefore turn out to be its analysis of the changes under way in electricity and the problems with the UK's current policy approach, including its excessive complexity. Even if it does not provide a roadmap for the way forward, the Review is likely to be an important reference point for some time to come.