The Power export in United Kingdom reached 4,481 GWh in 2020
The indicator recorded a historical growth at a CAGR of 9.56% between 2017 to 2020
Why did the power export in the UK grow in 2020?
During 2000–2020, the UK has been a net importer of electricity. In 2000, country imported more electricity than it exported. In 2020 as well, electricity imported in the UK was higher than electricity exported in the year. The country’s imports are expected to decline in the future owing to the shale gas reserves were recently identified in the north of England. These reserves, which are estimated to be the largest in the world, will reduce the UK’s dependence on imports in coming years.
Impact of COVID-19
With most businesses closed, the electricity consumption in the country observed a steep decline in 2020. During the country’s first national lockdown, the demand for electricity reduced drastically, whereas during the second lockdown, the demand did not fall much as compared to the first lockdown due to less severe restrictions. In 2020, the total electricity consumption in the country fell compared to 2019. The decline was observed in all sectors, but industrial and commercial sectors were the most affected. With decline in electricity demand, the wholesale electricity prices across the UK have fallen to their lowest level in a decade.
Climate Change Levy
The Climate Change Levy (CCL) was introduced in 2001 to encourage energy efficiency and promote investment in renewable energy technologies. The tax is charged on the use of coal, gas, liquefied petroleum gas (LPG), and power in the industry, agriculture, and other public sector industries.
The levy rates vary depending on the primary energy content of different fuels. The aim of the program is the optimum utilization of renewable energy sources that cause less pollution. The CCL exemptions were provided for the supply of power generated from “new” renewable energy sources. The exemptions also protect the competitiveness of the UK business, including energy supplied for export.
Supply Security
The UK is actively involved in power exchanges with several European countries although characterized with a rather unsteady power import pattern over the years. For power generation, the UK 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.
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