Research and Markets Releases United Kingdom Power Report
In Britain, the power clock is ticking. Key decisions must be made and new policies implemented. Nuclear is to be a key plank of electricity supply strategy, but does not have public support.
Investment in renewables has been rising fast, with wind power the chosen option. Proposed changes to planning rules may help accelerate the onshore wind turbine trend, while offshore schemes are making good progress. Shifting subsidies for solar installations may slow the rate of expansion. The UK has pledged to derive 15% of its energy from renewable sources by 2020 and reduce carbondioxide emissions by 80% from 1990 levels by 2050.
Key trends and developments in the British electricity market include:
-The UK’s Energy and Climate Change Secretary Ed Davey and Chancellor George Osborne announced in March 2012 that the promised emissions performance standard governing new fossil fuel-fired power stations would be set at 450 grams/ kilowatt hour (kWh) through to 2045.
-During the 2012-2021 period, the UK’s overall power generation is expected to increase by an annual average of 1.12%, reaching 396TWh. Driving this growth is an annual 1.90% gain in gasfired and a long-term rise in nuclear generation, accompanied by an annual average increase of 8.12% for renewables-based electricity supply.
– Following an estimated increase in 2011 real GDP of around 1%, BMI forecasts average annual growth of 2.11% between 2012 and 2021. The population is expected to rise from around 62.4mn in 2011 to 66.2mn in 2021, with net power consumption to increase from an estimated 323TWh to 351TWh by 2021. During the 2012-2021 period, the average annual growth rate for electricity demand is forecast at 0.83%.
Offshore WIND staff, August 03, 2012