In 2023, the gross electricity production from gas oil and diesel oil (excluding biofuel) in the UK stood below the forecasted value for 2024. Between 2024 and 2028, production is expected to increase annually, reaching 40.78 thousand tonnes of oil equivalent by 2028. Year-on-year growth shows a steady upward trend. The compound annual growth rate (CAGR) for the forecast period is approximately 2.07%, suggesting a moderate yet consistent increase in production.
Future trends to watch for include the impact of regulatory shifts towards cleaner energy sources, potential advancements in oil extraction technology, and fluctuations in global oil prices which could influence production rates.
