Based on the data from 2013 to 2023, the electricity energy supply in the UK has shown considerable fluctuations. Starting at 14.43 Thousand GWh in 2013, it peaked at 21.11 in 2015, then declined and fluctuated for several years before a more sustained increase began in 2021. By 2023, the electricity supply had reached 23.32 Thousand GWh. Over the past two years, the year-on-year growth was 3.35% in 2021 and 8.61% in 2022, stabilizing to 3.02% in 2023. The compound annual growth rate (CAGR) for the last five years stands at 4.07%.
Future trends to watch for:
- The forecast indicates a steady increase in the supply, expected to reach 26.83 Thousand GWh by 2028.
- The forecasted five-year CAGR from 2024 to 2028 is 2.26%, indicating a moderate but consistent growth trajectory.
- Growth rate over this period is predicted to be 11.81%, suggesting stability in the energy supply chain.