It is estimated that over the next decade around 20 percent of the country’s electricity production ability is going to be lost. However, despite this predicted fall in the amount of electricity being produced, it is expected that the amount of power demanded by the nation is going to double over the next four decades. Furthermore, Britain has committed to producing around 15 percent of its energy from green sources within eight years. Many members of the government are pushing for a complete decarbonisation of electricity production by some point in the 2030s.
These are not the only issues that are going on in the electricity market in the UK at the moment, and there is currently the issue of smart meters being introduced. All of this is exacerbated by the fact that the U.K. is in a double-dip recession, and everything, including the electricity market is suffering.
In May, the government published the Draft Energy Bill, which is designed to provide a solution to the power problem that is going to occur. The government identified that over £100 billion of investment is going to be needed to over the next 10 years in order to establish new power sources, to provide electricity as the existing ones come to the end of their useful life. However, there are many detractors and some have said that the bill is completely unworkable.
They’ve said that it needs to be completely re-drawn in order to make it a success. They have also highlighted the fact that the bill is not appealing to investors, and if the government wants to raise the huge amount of money required, they are going to have to do a better job. There are many issues surrounding the future power generation in the UK that are very controversial. While wind turbines are expected to make a big appearance, some people find them ugly, and nuclear power also has its opponents.