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United Kingdom Power Market Size and Trends by Installed Capacity, Generation, Transmission, Distribution, and Technology, Regulations, Key Players and Forecast, 2022-2035

The cumulative installed capacity in the UK power market was 102.7 GW in 2021. The market is expected to grow at a CAGR of more than 5% during the forecast period. The UK is actively involved in power exchanges with several European countries. The country generates power from a diverse range of sources, including coal, gas, oil, hydropower, renewables, and nuclear power. Thermal power is its main source of power generation and gas-fired power plants constitute most of its thermal capacity. The dependence on imports represents a potential risk to the security of the energy supply. The recent Russia-Ukraine conflict also opened a question on the reliability of imports. Although the UK does not rely heavily on Russia for its gas imports, it is not immune to the high prices caused by the conflict.

The UK power market report discusses the power market structure of the UK and provides historical and forecast numbers for capacity, generation, and consumption up to 2035. The report also gives a snapshot of the power sector in the country on broad parameters of macroeconomics, supply security, generation infrastructure, transmission and distribution infrastructure, electricity import and export scenario, degree of competition, regulatory scenario, and future potential.

UK power market overview

UK power market overview

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What are the market dynamics in the UK power industry?

The UK is the second-largest economy in the power market in Europe. It is an important trading center and has a free-market economy with limited regulations. Recently, it has become a net importer of energy due to declining reserves. However, shale gas reserves identified in the north of England, which are estimated to be the largest in the world, is expected to reduce the UK’s dependence on imports. 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. The development of renewables has been below par in the UK in comparison to other major European countries. The lack of strong government policies for the sector and unfavorable weather conditions have been major challenges to the growth of technologies such as solar PV.

What are the key types of power in the UK power market?

The key types of power in the power market in the UK are thermal power, hydropower, and nuclear power. The UK government is planning to shut down all coal-fired power plants in the country, but gas-based generation would continue to be of priority to decrease dependency on imports. Shale gas discovered in the UK is expected to extend the UK’s natural energy supply and the government is preparing tax breaks and incentives to attract investment in this sector. Hydropower generation in the UK is unreliable and depends on climatic conditions and rainfall. Moreover, the construction of additional hydropower plants has attracted criticism, owing to their harmful impact on the environment. In the Ten Point Plan launched in November 2020, the government set a priority to deliver new and advanced nuclear power and has committed to arriving at an investment decision on at least one large-scale nuclear power station during the parliament ending by December 2024. The country has also reconfirmed the status of nuclear as clean energy.

What are the key sectors in the UK power market?

The key sectors in the power market in the UK are residential sector, commercial sector, industrial sector, and transport sector. In 2021, the residential sector had the dominant share in power consumption.

The UK power market, by sectors

The UK power market, by sectors

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Who are the key players in the UK power market?

Some of the key players in the power market in the UK are RWE AG, EDF group, SSE Plc, Fortum Corp, Drax Group Plc, EP UK Investments Ltd, and Orsted AS. In 2021, the market was dominated by RWE AG, followed closely by the EDF group.

UK power market, by key players

UK power market, by key players

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Market report scope

Market size 2021 102.7 GW
Growth rate CAGR of >5%
Forecast period 2022-2035
Key types of power Thermal Power, Hydropower, and Nuclear Power
Key sectors Residential Sector, Commercial Sector, Industrial Sector, and Transport Sector
Key players RWE AG, EDF Group, SSE Plc, Fortum Corp, Drax Group Plc, EP UK Investments Ltd, and Orsted AS

This report provides:

  • 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 2021, and forecast for the next 14 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, and 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 historic 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.

Key Players

RWE AG, EDF group, SSE Plc, Fortum Corp, Drax Group Plc, EP UK Investments Ltd, Ørsted AS

Table of Contents

| Table of Contents

1. Executive Summary

1.1 Ukraine crisis creates an urgency for supply security

1.2 Renewable power to become primary power source during forecast period

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, 2010–2021

Deals by Type, 2021

4.4 UK Power Market, Demand Structure

Power Consumption by Sector, 2021

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 Renewable Energy Targets

5.6 Electricity Market Reform 2011

5.7 Climate Change Act

5.8 The Clean Growth Strategy and Clean Growth Grand Challenge

5.9 Carbon Reduction target 2030

5.10 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

5.11 Renewable Energy Guarantees of Origin

5.12 Renewable Obligation Order

5.13 Contracts for Difference (CfD)

5.14 Impact of Brexit on UK energy Industry

5.15 Carbon Emissions Tax 2018

5.16 Carbon Price Floor (CPF)

5.17 Carbon Price Support

5.18 Climate Change Levy

5.19 Smart Metering

5.20 Smart Export Guarantee (SEG)

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

Northern Ireland

Scotland

Wales

6. UK Power Market, Capacity and Generation

6.1 Cumulative Capacity Share by Technology, 2021

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 EDF Group

Company Overview

Business Description

SWOT Overview

8.2 RWE AG

Company Overview

Business Description

SWOT Overview

8.3 SSE Plc

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

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List of Tables

| List of Tables

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

Table 2: Renewable Obligation, Technology Eligibility, UK

Table 3: Renewable Obligation, Technology Eligibility, UK

Table 4: Renewable Obligation (ROC/MWh), UK, 2009–2023

Table 5: Renewable Energy, CfD First Allocation Round Results, UK, 2015

Table 6: Renewable Energy, CfD Second Allocation Round Results, UK, 2017

Table 7: Renewable Energy, CfD Third Allocation Round Results, UK, 2019

Table 8: Climate Change Levy (GBP/kWh or /kg), UK, 2016–2021

Table 9: Percentage Discount for CCA holders (%), UK, 2016–2021

Table 10: Carbon Price Support Rates* for Climate Change Levy, UK, 2015–2021

Table 11: Smart Export Guarantee Tariff, UK, 2022

Table 12: Power Market, UK, Cumulative Capacity and Annual Generation, 2010–2035

Table 13: Power Market, UK, Cumulative Capacity and Annual Generation Share by Technology, 2010–2035

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

Table 15: Thermal Power Market, UK, Major Plants, 2021

Table 16: Hydropower Market, UK, Cumulative Capacity and Annual Generation, 2010–2035

Table 17: Hydropower Market, UK, Major Plants, 2021

Table 18: Nuclear Power Market, UK, Cumulative Capacity and Annual Generation, 2010–2035

Table 19: Nuclear Power Market, UK, Major Plants, 2020

Table 20: Renewable Power Market, UK, Cumulative Capacity (GW), 2010–2035

Table 21: Renewable Power Market, UK, Annual Generation (TWh), 2010–2035

Table 22: Renewable Power Market, UK, Major Plants, 2021

Table 23: Power Market, UK, Transmission Line Length (Ckm) by Voltage Level, 2010–2025

Table 24: Power Market, UK, Distribution Line Length (Ckm) by Voltage Level, 2010–2025

Table 25: Power Market, UK, Annual Electricity Import and Export (TWh), 2000–2021

Table 26: Power Market, UK, Upcoming Interconnection Projects

Table 27: Abbreviations

List of Figures

| List of Figures

Figure 1: Renewable Power Market, UK, Cumulative Capacity, 2010–2035

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 (%), 2021

Figure 6: Power Market, UK, Deal Value and Number of Deals, 2010–2021

Figure 7: Power Market, UK, Deals by Type (%), 2021

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

Figure 9: Power Market, UK, Power Consumption by Sector (%), 2021

Figure 10: Power Market, UK, Cumulative Capacity Share by Technology (%), 2021

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, 2000–2021

Frequently Asked Questions

The power market size in the UK was 102.7 GW in 2021.

 

 

 

The power market in the UK is expected to grow at a CAGR of more than 5% during the forecast period.

The key types of power in the UK power market are thermal power, hydropower, and nuclear power.

The key sectors in the UK power market are the residential sector, commercial sector, industrial sector, and transport sector.

Some of the key players in the UK power market are RWE AG, EDF group, SSE Plc, Fortum Corp, Drax Group Plc, EP UK Investments Ltd, and Orsted AS.

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