New Energy market report from Business Monitor International: "United Kingdom Power Report Q4 2014"
Boston, MA -- (SBWIRE) -- 10/23/2014 -- Our subdued forecasts for the UK power sector are a consequence of stalling investment in new thermal capacity and protracted uncertainty over government energy policy. While the UK's Energy Bill and the EMR have been signed into law , and there has been encouraging activity in the nuclear sector , many investors are unwilling to commit capital until market conditions improve a nd there is more clarity over energy policy and the outcome of the 2015 general election .
The outlook for the UK's power sector is complicated by numerous sector-specific factors - with the most pressing being the uncertainty over future energy policy and the politicisation of the power sector. While the long-awaited Energy Bill was signed into law in late 2013, and there has been an uptick in activity in the domestic nuclear segment since a strike price for two new nuclear reactors at Hinkley Point in Somerset was agreed, investment in traditional thermal generation capacity continues to stall.
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This freeze in investment has been brought into sharp focus in recent months. Vast amounts of thermal baseload capacity (mainly coal-fired capacity) have been mothballed as utilities cut their losses rather than upgrade power plants in order to comply with costly European emissions reduction policies (such as the Large Combustion Plants Directive). With the Department for Energy and Climate Change (DECC) stating that one-fifth of the UK's existing installed capacity is due to come offline over the next decade, capacity margins are set to narrow through 2015/2016.
Furthermore, while gas-fired capacity appears to be one of the favoured options with regards to replacing aging coal-fired capacity, many companies that had outlined plans to build new gas-fired power plants are now holding on until market conditions improve and there is more certainty with regards to future government energy policy and the outcome of the 2015 general election.
Key Trends And Developments
The United Kingdom Power Report features Business Monitor International (BMI)'s market assessment and independent forecasts covering electricity generation (coal, gas, oil, nuclear, hydro and non-hydro renewables), electricity consumption, trade, transmission and distribution losses and electricity generating capacity.
The United Kingdom Power Report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing national and multinational operators by sales, market share, investments, projects, partners and expansion strategies.
- Use BMI's independent industry forecasts for United Kingdom to test other views - a key input for successful budgeting and strategic planning in the power market.
- Target business opportunities and risks United Kingdom's power sector through our reviews of latest power industry trends, regulatory changes, and major deals, projects and investments in United Kingdom
- Assess the activities, strategy and market position of your competitors, partners and clients via our Competitive Landscape analysis.
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis, covering power markets, regulatory changes, major investments, projects and company developments.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the power sector, and within the broader political, economic and business environment.
The Regional Overview provides a comparative context from within which one can assess the relative profitability of the power industry in a given country, incorporating BMI's country risk macro forecasts into our regional analysis. They also detail any relevant issues or events that might cause market fluctuations, as well as evaluate the impact of existing power infrastructure and fresh investments on the regional market.
BMI Industry Forecasts
The Industry Forecasts provide historic data series and forecasts to end-2018 for electricity generation (TWh) and electricity generating capacity (MW) for each individual power segment present in the country. These forecasts are in turn supported by explicit assumptions, in conjunction with analysis of the key risks to the main forecast. These in turn are broken down into:
Electricity Generation forecasts for Thermal, Coal, Gas, Oil, Nuclear, Hydro and Non-Hydro Renewables. For this section, we provide information on electricity generation (TWh), % growth year-on-year, KWh per capita, and the % of total electricity generation. The thermal fuels (coal, gas and oil) also have figures for their % of total thermal electricity generation.
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