Published on : Sep 07, 2017
Albany, New York, September 7, 2017: The UK government is strongly working on its commitments to dealing with climate change and phasing out coal-fired power plants is one of them. A report named “U.K. - Energy Industry - August 2017” has been added to the repository of Market Research Hub (MRH) that focuses on the energy industry in the UK. The report offers key insights on the numerous factors at play in UK’s energy industry.
According to the report, coal-fired power plants are under scrutiny, owing to the adverse impact on the environment. There are plans to steadily phase out coal-fired power plants by 2025, with gas-fired power generation gaining traction. According to the report, the share of gas-fired power generation increased from nearly 29% in 2015 to 41% in 2016. Owing to the phasing out of coal-fired power plants, a number of existing power plants have got extension.
The focus on reducing the dependence on non-renewable sources of energy is not limited to UK alone. In Scotland, the last coal power plant was closed in spring 2016 and also, two of the largest coal plants were decommissioned in England. This led to the fall in electricity generated by coal from 16.7 per cent in the third quarter of 2015, to just 3.6 per cent over the same period in 2016. Scotland, which has demonstrated a strong commitment to renewable energy, now produces 77 per cent of its electricity from low-carbon sources.
Coal has dominated the market in UK throughout the full history of the electricity market. With renewables and nuclear energy also making significant contributions, the fuel mix in 2016 had the lowest carbon intensity since the early market’s formation. An analysis by UK-based environmental website Carbon Brief shows that the UK generated more electricity from wind and solar farms than coal in 2016.
According to the report, the low cost of gas-fired power generation is sustained compared to the fluctuating cost of coal-fired power generation. Natural gas accounts for the largest increase in world primary energy consumption and holds strong competitive position among other resources. Natural gas remains a key fuel in the industrial sector.
The report opines that such tremendous transition from coal to gas has brought in some challenges for the market in terms of ensuring sufficient security of supply and how these challenges are dealt with will determine the future of the market. Moreover, the report also provides in-depth analysis of electricity supplied in the UK, type of fuel used, UK gas supply between 2012-2016, breakdown of average domestic dual fuel bill 2016, and the potential impact of Brexit on the UKs renewable energy policy.
Smart meters are steadily gaining traction in the UK energy industry, with adoption witnessing a gradual increase. The report offers comprehensive analysis on the opportunities smart meters offer to energy suppliers. The report also focuses on the guidelines and regulations impacting the energy industry in the UK. Key market regulations include CMA energy market investigation, EU Renewables Directives, Feed-In Tariffs, The Renewable Heat Incentive, and Energy Company Obligation (ECO).
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