The forecast for total support on all fossil fuels for consumers in the UK shows a gradual increase from 2024 to 2028, with values rising from 13.57 billion USD in 2024 to 15.03 billion USD by 2028. As of 2023, the actual value was lower, indicating a steady upward trend over these forecasted years. This suggests a year-on-year increase of approximately 2.8% from 2024 to 2028. The Compound Annual Growth Rate (CAGR) over these five years confirms this consistent growth pattern, emphasizing a modest but persistent rise.
Future trends to watch for include the impact of government policy shifts towards renewable energy, potential economic factors affecting fossil fuel pricing, and technological advancements that may influence energy consumption patterns. Monitoring these dynamics will be crucial in assessing future support levels for fossil fuels.
