Energy regulator Ofgem has argued that action is needed to ensure the security and stability of cheap energy in the country.
Releasing the conclusions of Project Discovery, the regulator argued that as a result of a number of factors, including tough green energy targets and a growing switch to gas dependency, are casting doubt over the sustainability of the country's current energy supplies.
As a result, action is needed to help lower costs for consumers and reduce risk associated with the country's energy supplies, the organisation argued.
Chief executive of the organisation Alistair Buchanan said that Britain now has an opportunity to instil far-reaching reforms to boost the country's energy security.
"Acting earlier will also help keep costs as low as possible for consumers and business," he said.
He added that while Ofgem does not advocate change lightly, there is a need for reforms to boost overall levels of supply security. Such moves may help to boost access to cheap energy for consumers in the long run.
A range of policy measures designed to deal with the situation have now been put forward for consultation by the regulator.
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