* Power system under strain especially in winter 2014/15 * Government should speed up power market reform – report LONDON Oct 17 (Reuters) – Britain could see widespread power blackouts during next year’s winter if a series of unforeseen events such as a cold snap or unplanned station outages occurs simultaneously, a report for an advisory body to the prime minister warned on Thursday. Britain’s power capacity margin, which is the production capacity available above demand levels, is expected to be dangerously low in the winter of 2014/15, an engineering report for the Council for Science and Technology said. Britain’s energy regulator Ofgem and network operator National Grid have also warned of shrinking margins and in response are creating tools aimed at reducing peak demand. "Although the electricity supply is expected to be sufficient to cover predicted levels of demand, it is likely to stretch the system close to […]