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United Kingdom Power Report Q1 2012

635

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Electronic License

Electronic License

An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

£635.00

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Market

Energy and Utilities

Report Type

Market Research

Country

United Kingdom

Published

31 January 2012

Number of Pages

58

Report Delivery

Download

Delivery Lead Time

Immediate

Publisher

Business Monitor International

File Format

-

The price of this market report covers 4 quarterly reports on this sector. This quarterly report will be downloadable instantly as a PDF document, with the 3 remaining reports delivered at regular intervals throughout the year.

BMI View: In Britain, the power clock is ticking. Key decisions must be reached and new policies implemented. Nuclear is to be a key plank of electricity supply strategy, but is not backed by public support. Investment in renewables has been rising fast, with wind power the chosen option. Proposed changes to planning rules may help accelerate the onshore wind turbine trend, while offshore schemes are making good progress. Shifting subsidies for solar installations may slow the rate of expansion. The UK has pledged to derive 15% of its energy from renewable sources by the end of the decade and reduce carbon-dioxide emissions by 80% from 1990 levels by 2050. Achieving this will require as much as 40GW of low-carbon energy projects, according to a December 2010 report from the Committee on Climate Change.

Key trends and recent developments in the British electricity market include: Britains nuclear regulator in December 2011 issued interim design approval for Areva and EdF Energys European Pressurised Water Reactor (EPR) and Westinghouses AP1000 nuclear reactor, paving the way for UK plant developers to use them in new power stations. Both companies have additional technicalities to clarify but the regulator said it was satisfied they would resolve remaining issues to gain a full licence, which is needed to start construction.
During the 2011-2021 period, the UKs overall power generation is expected to increase by an annual average of 0.94%, reaching 399.7TWh. Driving this growth is an annual 1.36% gain in gas-fired and a 1.05% rise in nuclear generation, accompanied by an annual increase in excess of 7.82% for renewablesbased electricity supply.

Following an increase in 2011 real GDP of an estimated 1.1%, BMI forecasts average annual growth of 2.3% between 2011 and 2021. The population is expected to rise from the current level of 62.4mn to 66.2mn during the 2011-2021 period, and net power consumption looks set to increase from 323TWh to 341TWh by 2016, rising further to 360TWh by 2021. During the 2011-2016 period, the average annual growth rate for electricity demand is forecast at 0.63%, but accelerating later in the decade to an average 1.12% in 2016-2021.
Thanks partly to the forecast slow but steady rise in net generation, with growth slightly exceeding the underlying demand trend, the UKs power supply shortfall is likely to decrease as new capacity kicks in – particularly towards the end of the forecast period. A broadly unchanged percentage of transmission and distribution losses at around 9.5% will do little to help strengthen the market. The theoretical net import requirement by 2016 will be 2.7TWh unless demand growth beats expectations, and will have been virtually eradicated by 2021 if investment reaches the required level.

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Select License Type

Electronic License

Electronic License

An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

£635.00

Change Currency

GBP EURO USD

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