Energy regulator Ofgem has highlighted the challenges to Britain's gas and electricity supplies. Chief among these challenges are a growing exposure to a volatile global gas market and power stations nearing the ends of their lives. Ofgem has drawn up four energy scenarios to assess the energy security risks over the next 10-15 years. They reveal a range of potential risks to supplies when exposed to shocks. Further, Ofgem identifies the need for investment of up to 200bn pounds in power plant and other infrastructure over the next 10 years to secure both energy supplies and climate change targets. The need for this investment arises at a time of volatile world energy prices and Britain's increasing dependence on gas imports.
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