In 2023, the total support on all fossil fuels in the UK stood at $20.27 billion (constant 2020 USD). Forecasted data indicates a steady annual increase: reaching $20.87 billion in 2024, $21.48 billion in 2025, $22.09 billion in 2026, $22.69 billion in 2027, and $23.28 billion in 2028.
- Year-on-year growth from 2024 to 2028 shows an approximate consistent increase of around 2.9% annually.
- The compound annual growth rate (CAGR) over the five-year period is estimated at 2.86%.
Future trends to watch for include potential policy changes aimed at reducing fossil fuel dependency. Additionally, economic fluctuations and advancements in renewable energy technologies could impact future support levels for fossil fuels in the UK.
