United Kingdom (UK) Power Market Outlook to 2035 – Market Trends, Regulations and Competitive Landscape

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United Kingdom (UK) Power Market Report Overview

The annual power consumption in the United Kingdom (UK) was 274.3TWh in 2022. It is expected to grow at a CAGR of less than 1% during 2022-2035. The growth can be attributed to the UK government’s strong emphasis on the growth of wind power to achieve its climate goals. The country has set a target to achieve 30GW wind power capacity by 2030. Furthermore, renewable, and nuclear power plants are also expected to register considerable growth, as the government is in the process of de-carbonizing its power sector.

UK Power Market Outlook (2022-2035)

UK Power Market Outlook (2022-2035)
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The UK power market research report discusses the power market in the country in-depth and predicts future outcomes until 2035.  Detailed coverage of the regulations and policies governing the market is also provided in the report.  The UK power market report highlights the cumulative installed capacity and power generation trends by individual generation source from 2010 to 2035 in the country’s power market. Furthermore, the report also provides company snapshots of a few of the major market participants.

Total Power Consumption (2022) 274.3TWh
CAGR (2022-2035) <1%
Historical Period 2010-2022
Forecast Period 2023-2035
Key Sector ·        Industrial Sector

·        Residential Sector

·        Commercial Sector

·        Transport Sector

Key Deal Types ·        Acquisitions

·        Asset Transactions

·        Partnerships

·        Venture Financing

·        Equity Offerings

·        Private Equity

·        Debt Offerings

Key Companies ·        RWE AG

·        SSE Plc

·        Uniper SE

·        Electricite de France SA

·        Orsted AS

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UK Power Market by Sectors

The residential sector had the dominant share in power consumption in 2022

The key sectors in the UK power market are the residential sector, industrial sector, transport sector, commercial sector, and other sectors. In 2022, the residential sector had the dominant share in power consumption in the UK power market, followed by the industrial sector and the commercial sector.

UK Power Consumption Market Analysis by Sectors, 2022 (%)

UK Power Consumption Market Analysis by Sectors, 2022 (%)
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UK Power Market Segmentation by Deal Types

Most of the deals in the UK power market were acquisitions in 2022

The key deal types recorded in the UK power market in 2022 are partnerships, debt offerings, acquisitions, asset transactions, and others. A total of 377 deals were executed in 2022. Based on deal type, the UK’s power market was dominated by acquisitions in 2022, followed by asset transactions and partnerships.

UK Power Market Analysis by Deal Types, 2022 (%)

UK Power Market Analysis by Deal Types, 2022 (%)
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UK Power Market – Competitive Landscape

In 2022, the UK’s power generation market was dominated by RWE AG

The key companies in the UK power market include:

  • RWE AG
  • SSE Plc
  • Uniper SE
  • Electricite de France SA
  • Orsted AS

RWE AG: RWE AG (RWE) is an energy utility company. The company has a presence across the energy value chain, from lignite production and electricity generation to energy trading and operation of distribution networks, and supply of electricity, gas, and energy solutions. It produces electricity using conventional, nuclear, and renewable sources. RWE trades electricity, oil, natural gas, biomass, coal, and CO2 certificates; retails electricity and gas; and sources fuel needed to produce electricity and heat, and markets the electricity generated by its plants. It also plans, builds, and operates renewable energy facilities; and manages electricity and gas distribution networks. The company serves residential, commercial, industrial, and corporate customers in European Union member countries, Benelux, Eastern Europe, and other countries in the continent. RWE is headquartered in Essen, Nordrhein-Westfalen, Germany.

UK Power Generation Market Analysis by Companies, 2022 (%)

UK Power Generation Market Analysis by Companies, 2022 (%)
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Latest Developments

  • In March 2023, RWE AG has acquired JBM Solar. This acquisition will help the company to grow its market in the UK. The company plans to take over a mature pipeline of solar and battery storage projects with a combined capacity of 6.1 gigawatts. They expect to complete this project by the end of 2024.
  • In June 2023, SSE Plc’s SSEN Transmission division announced GBP10,000 million for upgrading its transmission network across the north of Scotland. The upgrade will enable the company to support connections up to 11 GW. This investment will help the company in transporting renewable energy to key demand centers in the UK from the north of Scotland. It will also help the company in transitioning to a zero-carbon economy.

Segments Covered in the Report

UK Power Type Industry Outlook (Value, 2010-2035)

  • Residential Sector
  • Industrial Sector
  • Transport Sector
  • Other Sector
  • Commercial Sector

UK Power Market Deal Type Outlook (Value, 2010-2035)

  • Acquisitions
  • Asset Transactions
  • Partnerships
  • Venture Financing
  • Equity Offerings
  • Private Equity
  • Debt Offerings

Scope

  • Snapshot of the country’s power sector across parameters – macroeconomics, supply security, generation infrastructure, transmission infrastructure, electricity import and export scenario, degree of competition, regulatory scenario, and future potential of the power sector.
  • Statistics for installed capacity, generation, and consumption from 2010 to 2022, and forecast for the next 13 years to 2035.
  • Capacity, generation, and major power plants by technology.
  • Data on leading active and upcoming power plants.
  • Information on transmission and distribution infrastructure, electricity imports and exports,
  • Policy and regulatory framework governing the market.
  • Detailed analysis of top market participants, including market share analysis and SWOT analysis.

Reasons to Buy

  • Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s power sector.
  • Identify key factors driving investment opportunities in the country’s power sector.
  • Facilitate decision-making based on strong historical and forecast data.
  • Develop strategies based on the latest regulatory events.
  • Position yourself to gain the maximum advantage of the industry’s growth potential.
  • Identify key partners and business development avenues.
  • Identify key strengths and weaknesses of important market participants.
  • Respond to your competitors’ business structure, strategy, and prospects.

Table of Contents

Table of Contents

1 Executive Summary

1.1 UK’s offshore wind surge faces roadblocks.

1.1 Residential sector dominates power consumption.

2 Introduction

2.1 UK Power Market

2.2 GlobalData Report Guidance

3 UK Power Market, Snapshot

3.1 Country Summary

3.2 Macroeconomic Factors

3.3 Supply Security

3.4 Opportunities

3.5 Challenges

3.6 Impact of COVID-19

4 UK Power Market, Market Analysis

4.1 Market Structure

4.2 Key Market Players

4.3 Financial Deals

Deal Value and Volume, 2010–2022

Deals by Type, 2022

4.4 UK Power Market, Demand Structure

Power Consumption by Sector, 2022

5 UK Power Market, Regulatory Scenario

5.1 Thermal Power Policy

5.2 Hydropower Policy

5.3 Nuclear Power Policy

5.4 Renewable Energy Market, Overview

5.5 Policy Snapshot

5.6 Renewable Energy Targets

5.7 Electricity Market Reform 2011

5.8 Climate Change Act

Amendment 2019

5.9 The Clean Growth Strategy and Clean Growth Grand Challenge

5.10 Carbon Reduction target 2030

5.11 Hydrogen Policy in the UK

Overview

The Prime Minister’s Ten Point Plan 2020

Hydrogen Strategy

Powering our Net Zero Future: White Paper

Sixth Carbon Budget Report issued by the Climate Change Committee

5.12 Renewable Energy Guarantees of Origin

5.13 Renewable Obligation Order

5.14 Contracts for Difference (CfD)

5.15 Impact of Brexit on UK energy Industry

5.16 Carbon Emissions Tax 2018

5.17 Carbon Price Floor (CPF)

5.18 Carbon Price Support

5.19 Climate Change Levy

5.20 Smart Metering

5.21 Smart Export Guarantee (SEG)

5.22 Strategies and legislation in Northern Ireland, Scotland, and Wales

Northern Ireland

Scotland

Wales

5.23 Review of Electricity Market Arrangements (REMA)

5.24 British Energy Security Strategy

Package of support for innovative energy

6 UK Power Market, Capacity and Generation

6.1 Cumulative Capacity Share by Technology, 2022

6.2 Total Power Capacity and Generation, 2010–2035

6.3 Thermal Power Capacity and Generation, 2010–2035

6.4 Hydropower Capacity and Generation, 2010–2035

6.5 Nuclear Power Capacity and Generation, 2010–2035

6.6 Renewable Power Capacity and Generation, 2010–2035

7 UK Power Market, Transmission and Distribution Overview

7.1 Transmission Network

7.2 Distribution Network

7.3 Electricity Import and Export

7.4 Grid Interconnection

7.5 Electricity Trading

8 UK Power Market, Major Generating Companies

8.1 RWE AG

Company Overview

Business Description

SWOT Overview

8.2 SSE Plc

Company Overview

Business Description

SWOT Overview

8.3 Uniper SE

Company Overview

Business Description

SWOT Overview

8.4 Electricite de France SA

Company Overview

Business Description

SWOT Overview

9 Appendix

9.1 Abbreviations

9.2 Market Definitions

Power

Renewable Power

Installed Capacity

Electricity Generation

Electricity Consumption

9.3 Methodology

Coverage

Secondary Research

Primary Research

Modelling and Forecasting

About GlobalData

Contact Us

Table

List of Tables

Table 1: Power Market, UK, Macroeconomic Factors, 2010–2030

Table 2: Policy Snapshot, UK, 2022

Table 3: Renewable Obligation, Technology Eligibility, UK

Table 4: Renewable Obligation, Technology Eligibility, UK

Table 5: Renewable Obligation (ROC/MWh), UK, 2009–2023

Table 6: Renewable Energy, CfD First Allocation Round Results, UK, 2015

Table 7: Renewable Energy, CfD Second Allocation Round Results, UK, 2017

Table 8: Renewable Energy, CfD Third Allocation Round Results, UK, 2019

Table 9: Renewable Energy, CfD Fourth Allocation Round Results, UK, 2022

Table 10: Renewable Energy, CfD Fifth Allocation Round Schedule, UK, 2023

Table 11: Climate Change Levy (GBP/kWh or /kg), UK, 2016–2021

Table 12: Percentage Discount for CCA holders (%), UK, 2016–2021

Table 13: Carbon Price Support Rates* for Climate Change Levy, UK, 2015–2021

Table 14: Smart Export Guarantee Tariff, UK, 2022

Table 15: Power Market, UK, Cumulative Capacity and Annual Generation, 2010–2035

Table 16: Power Market, UK, Cumulative Capacity and Annual Generation Share by Technology, 2010–2035

Table 17: Thermal Power Market, UK, Cumulative Capacity and Annual Generation, 2010–2035

Table 18: Thermal Power Market, UK, Major Plants, 2022

Table 19: Hydropower Market, UK, Cumulative Capacity and Annual Generation, 2010–2035

Table 20: Hydropower Market, UK, Major Plants, 2022

Table 21: Nuclear Power Market, UK, Cumulative Capacity and Annual Generation, 2010–2035

Table 22: Nuclear Power Market, UK, Major Plants, 2022

Table 23: Renewable Power Market, UK, Cumulative Capacity (GW), 2010–2035

Table 24: Renewable Power Market, UK, Annual Generation (TWh), 2010–2035

Table 25: Renewable Power Market, UK, Major Plants, 2022

Table 26: Power Market, UK, Transmission Line Length (Ckm) by Voltage Level, 2010–2027

Table 27: Power Market, UK, Distribution Line Length (Ckm) by Voltage Level, 2010–2025

Table 28: Power Market, UK, Annual Electricity Import and Export (TWh), 2000–2022

Table 29: Power Market, UK, Upcoming Interconnection Projects

Table 30: Abbreviations

Figures

List of Figures

Figure 1: Power Market, UK, Power Consumption by Sector (%), 2022

Figure 2: Power Market, UK, Country Summary

Figure 3: Power Market, UK, Macroeconomic Factors, 2010–2030

Figure 4: Power Market, UK, Market Structure

Figure 5: Power Market, UK, Market Share of Generation Companies (%), 2022

Figure 6: Power Market, UK, Deal Value and Number of Deals, 2010–2022

Figure 7: Power Market, UK, Deals by Type (%), 2022

Figure 8: Power Market, UK, Annual Power Consumption, 2010–2035

Figure 9: Power Market, UK, Power Consumption by Sector (%), 2022

Figure 10: Power Market, UK, Cumulative Capacity Share by Technology (%), 2022

Figure 11: Power Market, UK, Cumulative Capacity and Annual Generation, 2010–2035

Figure 12: Power Market, UK, Capacity Share by Technology, 2010–2035

Figure 13: Power Market, UK, Annual Generation Share by Technology, 2010–2035

Figure 14: Thermal Power Market, UK, Cumulative Capacity and Annual Generation, 2010–2035

Figure 15: Hydropower Market, UK, Cumulative Capacity and Annual Generation, 2010–2035

Figure 16: Nuclear Power Market, UK, Cumulative Capacity and Annual Generation, 2010–2035

Figure 17: Renewable Power Market, UK, Cumulative Capacity, 2010–2035

Figure 18: Renewable Power Market, UK, Annual Generation, 2010–2035

Figure 19: Power Market, UK, Annual Electricity Import and Export, 2000–2022

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