United Kingdom (UK) Power Market Outlook to 2035 – Market Trends, Regulations and Competitive Landscape
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United Kingdom (UK) Power Market Report Overview
The annual power consumption in the United Kingdom (UK) was 274.3TWh in 2022. It is expected to grow at a CAGR of less than 1% during 2022-2035. The growth can be attributed to the UK government’s strong emphasis on the growth of wind power to achieve its climate goals. The country has set a target to achieve 30GW wind power capacity by 2030. Furthermore, renewable, and nuclear power plants are also expected to register considerable growth, as the government is in the process of de-carbonizing its power sector.
UK Power Market Outlook (2022-2035)
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The UK power market research report discusses the power market in the country in-depth and predicts future outcomes until 2035. Detailed coverage of the regulations and policies governing the market is also provided in the report. The UK power market report highlights the cumulative installed capacity and power generation trends by individual generation source from 2010 to 2035 in the country’s power market. Furthermore, the report also provides company snapshots of a few of the major market participants.
Total Power Consumption (2022) | 274.3TWh |
CAGR (2022-2035) | <1% |
Historical Period | 2010-2022 |
Forecast Period | 2023-2035 |
Key Sector | · Industrial Sector
· Residential Sector · Commercial Sector · Transport Sector |
Key Deal Types | · Acquisitions
· Asset Transactions · Partnerships · Venture Financing · Equity Offerings · Private Equity · Debt Offerings |
Key Companies | · RWE AG
· SSE Plc · Uniper SE · Electricite de France SA · Orsted AS |
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UK Power Market by Sectors
The residential sector had the dominant share in power consumption in 2022
The key sectors in the UK power market are the residential sector, industrial sector, transport sector, commercial sector, and other sectors. In 2022, the residential sector had the dominant share in power consumption in the UK power market, followed by the industrial sector and the commercial sector.
UK Power Consumption Market Analysis by Sectors, 2022 (%)
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UK Power Market Segmentation by Deal Types
Most of the deals in the UK power market were acquisitions in 2022
The key deal types recorded in the UK power market in 2022 are partnerships, debt offerings, acquisitions, asset transactions, and others. A total of 377 deals were executed in 2022. Based on deal type, the UK’s power market was dominated by acquisitions in 2022, followed by asset transactions and partnerships.
UK Power Market Analysis by Deal Types, 2022 (%)
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UK Power Market – Competitive Landscape
In 2022, the UK’s power generation market was dominated by RWE AG
The key companies in the UK power market include:
- RWE AG
- SSE Plc
- Uniper SE
- Electricite de France SA
- Orsted AS
RWE AG: RWE AG (RWE) is an energy utility company. The company has a presence across the energy value chain, from lignite production and electricity generation to energy trading and operation of distribution networks, and supply of electricity, gas, and energy solutions. It produces electricity using conventional, nuclear, and renewable sources. RWE trades electricity, oil, natural gas, biomass, coal, and CO2 certificates; retails electricity and gas; and sources fuel needed to produce electricity and heat, and markets the electricity generated by its plants. It also plans, builds, and operates renewable energy facilities; and manages electricity and gas distribution networks. The company serves residential, commercial, industrial, and corporate customers in European Union member countries, Benelux, Eastern Europe, and other countries in the continent. RWE is headquartered in Essen, Nordrhein-Westfalen, Germany.
UK Power Generation Market Analysis by Companies, 2022 (%)
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Latest Developments
- In March 2023, RWE AG has acquired JBM Solar. This acquisition will help the company to grow its market in the UK. The company plans to take over a mature pipeline of solar and battery storage projects with a combined capacity of 6.1 gigawatts. They expect to complete this project by the end of 2024.
- In June 2023, SSE Plc’s SSEN Transmission division announced GBP10,000 million for upgrading its transmission network across the north of Scotland. The upgrade will enable the company to support connections up to 11 GW. This investment will help the company in transporting renewable energy to key demand centers in the UK from the north of Scotland. It will also help the company in transitioning to a zero-carbon economy.
Segments Covered in the Report
UK Power Type Industry Outlook (Value, 2010-2035)
- Residential Sector
- Industrial Sector
- Transport Sector
- Other Sector
- Commercial Sector
UK Power Market Deal Type Outlook (Value, 2010-2035)
- Acquisitions
- Asset Transactions
- Partnerships
- Venture Financing
- Equity Offerings
- Private Equity
- Debt Offerings
Scope
- Snapshot of the country’s power sector across parameters – macroeconomics, supply security, generation infrastructure, transmission infrastructure, electricity import and export scenario, degree of competition, regulatory scenario, and future potential of the power sector.
- Statistics for installed capacity, generation, and consumption from 2010 to 2022, and forecast for the next 13 years to 2035.
- Capacity, generation, and major power plants by technology.
- Data on leading active and upcoming power plants.
- Information on transmission and distribution infrastructure, electricity imports and exports,
- Policy and regulatory framework governing the market.
- Detailed analysis of top market participants, including market share analysis and SWOT analysis.
Reasons to Buy
- Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s power sector.
- Identify key factors driving investment opportunities in the country’s power sector.
- Facilitate decision-making based on strong historical and forecast data.
- Develop strategies based on the latest regulatory events.
- Position yourself to gain the maximum advantage of the industry’s growth potential.
- Identify key partners and business development avenues.
- Identify key strengths and weaknesses of important market participants.
- Respond to your competitors’ business structure, strategy, and prospects.
Table of Contents
Table
Figures
Frequently asked questions
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What was the total power consumption in the UK power market in 2022?
The annual power consumption in the UK was 274.3TWh in 2022.
-
What is the UK power market growth rate?
The UK power market is expected to grow at a CAGR of less than 1% during 2022-2035.
-
Which sector dominated the UK power market in terms of consumption?
In 2022, the residential sector had the dominant share in power consumption in the UK power market.
-
Which was the preferred deal type in the UK power market?
Based on deal type, the UK’s power market was dominated by acquisitions in 2022.
-
Who are the key market players in the UK power market?
The key companies in the UK power market include RWE AG, SSE Plc, Uniper SE, Electricite de France SA, and Orsted AS, among others.
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