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United Kingdom energy report

United Kingdom energy report
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Format
4 files (PDF report, 3 Excel files)
Pages
50 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

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Overview

This analysis includes a comprehensive United Kingdom energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Highlights

  • The government intends to reduce GHG emissions by 81% in 2035, compared to 1990, and to fully decarbonise the power system at that horizon.
  • Coal was phased out in October 2024.
  • EDF and RWE are the largest power suppliers, with shares of 19% and 18% of the wholesale market respectively.
  • British Gas is the leading supplier on the retail electricity and gas market.
  • The share of carbon-free generation in the power mix has increased by 38 points since 2010 to 62% in 2023.
  • The price of gas for households rose by 16% in 2023, following an historic 126% surge in 2022.
  • Energy consumption at normal climate continued its decrease in 2023 (-5%, as in 2022).
  • Carbon-free sources accounted for 24% of the energy mix in 2023, twice the share in 2010.
  • The government plans to raise offshore wind capacity to 50 GW by 2030.
  • It targets a tripling of nuclear capacity by 2050 (from 8 GW to 24 GW).
  • Power interconnection projects under development total 25 GW.
2nd
in the world for wind offshore capacity
62%
carbon-free sources in the power mix
-81%
target of GHG emissions reduction in 2035

  • Institutions & Energy Policy

    The Department for Energy Security and Net Zero oversees energy and climate change policy.

  • Energy Supply

    Resources:

    The UK has large oil and gas reserves, mainly located in the North Sea:  302 Mt for oil and 173 bcm for gas (at end-2023) that are declining rapidly (640 Mt and 1 200 bcm respectively in 2000). Shale gas reserves have been estimated at 39 900 bcm by the British Geological Survey (BGS), with 37 600 bcm in the Bowland Shale and 2 300 bcm in the Weald Basin.

  • Energy Prices

    Electricity:

    Since 2021, industrial electricity prices have doubled, reaching €33.5c/kWh in 2023. Household prices increased by 70% in 2022 and by 7% only in 2023 to €43.9c/kWh.

    In 2023, the average electricity price in the UK was 66% above the EU average for industry and 60% higher for households.

  • Energy Consumption

    Consumption per capita has shrunk by almost a third since 2000, bringing it to 2.1 toe in 2023. Electricity consumption per capita dropped by 30%, from 5 800 kWh in 2000 to 3930 kWh in 2023.

  • Issues & Prospects

    According to the Sixth Carbon Budget (for 2033-37), outlined in December 2020, total GHG emissions would shrink by 6.1%/year on average over 2020-2035.

  • GRAPH 1: CO2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2023, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2023, %)
  • GRAPH 5: Gasoline & diesel prices (€/l)
  • GRAPH 6: Electricity prices for industry and households (€c/kWh)
  • GRAPH 7: Gas prices for industry and households (€c/kWh GCV)
  • GRAPH 8: Consumption trends by energy source (Mtoe)
  • GRAPH 9: Total consumption market share by energy (2023, %)
  • GRAPH 10: Final consumption market share by sector (2023, %)
  • GRAPH 11: Oil consumption (Mt)
  • GRAPH 12: Petroleum products consumption breakdown by sector (2023, %)
  • GRAPH 13: Electricity consumption (TWh)
  • GRAPH 14: Electricity consumption breakdown by sector (2023, %)
  • GRAPH 15: Natural gas consumption (bcm)
  • GRAPH 16: Gas consumption breakdown by sector (2023, %)
  • GRAPH 17: Coal consumption (Mt)
  • GRAPH 18: Coal consumption breakdown by sector (2023, %)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator, gas plant projects by status and operator and LNG contracts.

The United Kingdom energy market data since 1990 and up to is included in the Excel file accompanying the United Kingdom country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • United Kingdom Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the United Kingdom energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The United Kingdom country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

  • Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
  • Power: Electricity generation & capacities, by technology.
  • CO2: Total CO2 emissions.
  • Macro-economy: Main macro-economic assumptions.
  • Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.