In 2023, the electricity energy supply in the UK stood at 84.00 thousand terajoules (TJ). The forecast for 2024 is 86.39 thousand TJ, representing a year-on-year increase of 2.84%. By 2025, the supply is expected to rise to 89.02 thousand TJ, a further 3.04% increase from the previous year. The forecast indicates continuing growth with 91.60 thousand TJ in 2026 (2.90% increase), 94.12 thousand TJ in 2027 (2.75% increase), and 96.60 thousand TJ in 2028 (2.64% increase). The Compound Annual Growth Rate (CAGR) over the 5-year period from 2024 to 2028 is approximately 2.83%.
Future trends to watch for include the impact of renewable energy adoption, technological advancements in energy storage, and regulatory changes impacting the electricity market. Additionally, shifts in consumer behavior and energy efficiency measures could also influence supply dynamics significantly.
