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United Kingdom Power Report Q1 2016

  • ID: 3505802
  • December 2015
  • Region: United Kingdom, Great Britain
  • 77 pages
  • Business Monitor International
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Plans to phase out the UK's remaining coal-fired power capacity by 2025 cement the decline of coal, which is already occurring due to tightening EU emissions directives, the UK's carbon price floor and a sustained period of lower gas prices. The biggest challenge when removing coal from the energy mix will be mobilising investment into replacement gas capacity, which will certainly require reform of the UK's capacity mechanism.

- We have decided to factor the UK's plans to close all of its coal-fired capacity by 2025 into our 10-year forecasts. We remain cognisant of considerable risks to this plan - not least that the government will have to incentivise the construction of replacement gas-fired generation via alterations to its capacity mechanism, but we believe the direction of travel with regards to phasing out aging coal capacity is clear.

We forecast coal will account for just 5% of total electricity generation by the end of our forecast period in 2024 and we will look to reduce this to zero when we extend our forecasts to 2025.

- On November 4 2015, National Grid was forced to use a series of emergency measures to prevent power cuts as its reserves ran low. National Grid paid the owner of the Severn power station Calon aboutnd GBP2,500 (USD3,771) per MWh to provide an additional 500MW for two hours.

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Table: Headline Power Forecasts (United Kingdom 2014-2020)

SWOT

Industry Forecast

United Kingdom Snapshot
Table: Country Snapshot: Economic and Demographic Data (United Kingdom 2014-2018)
Table: Country Snapshot: Economic and Demographic Data (United Kingdom 2019-2024)
Table: Country Snapshot: Power Sector

United Kingdom Power Forecast Scenario

Electricity Generation And Power Generating Capacity
Table: Key Components Of The Energy Bill
Table: UK Planned Nuclear Projects
Table: Total Electricity Generation Data And Forecasts (United Kingdom 2013-2018)
Table: Total Electricity Generation Data And Forecasts (United Kingdom 2019-2024)
Table: Electricity Generating Capacity Data And Forecasts (United Kingdom 2013-2018)
Table: Electricity Generating Capacity Data And Forecasts (United Kingdom 2019-2024)

Electricity Consumption
Table: Total Electricity Consumption Data And Forecasts (United Kingdom 2013-2018)
Table: Total Electricity Consumption Data And Forecasts (United Kingdom 2019-2024)

Transmission & Distribution, Imports & Exports
Table: Planned Interconnections Will Boost Power Supply
Table: Electric Power T&D Losses Data And Forecasts (United Kingdom 2013-2018)
Table: Electric Power T&D Losses Data And Forecasts (United Kingdom 2019-2024)
Table: Trade Data And Forecasts (United Kingdom 2013-2018)
Table: Trade Data And Forecasts (United Kingdom 2019-2024)

Industry Risk/Reward Index

Europe - NAWE Power RRI: US Outperforms Tepid European Power Markets

United Kingdom Power Risk/Reward Index

Rewards

Risks

Market Overview

Key Policies And Market Structure

Regulation And Competition
Table: Key Components Of The Energy Bill

Sustainable Energy Policies

Pricing

United Kingdom Power Projects Database

Competitive Landscape

EDF Energy

The National Grid Company

E N

RWE npower

SSE

Scottish Power

Centrica

Company Profile

EDF

Regional Overview

NAWE Power Regional Overview

Glossary
Table: Glossary Of Terms

Methodology

Methodology And Sources

Industry Forecast Methodology

Sources

Risk/Reward Index Methodology
Table: Power Risk/Reward Index Indicators
Table: Weighting Of Indicators

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