Between 2013 and 2023, the Electricity, Gas, Steam, and Air Conditioning Supply output in the UK experienced fluctuations. Notably, the sector saw significant year-on-year increases in 2014 (5.83%) and 2015 (8.68%), followed by a sharp decline in 2016 (-11.96%). A gradual recovery occurred until 2019, though the industry faced a substantial drop in 2020 (-15.83%). Post-2020, the output rebounded with a 22.13% increase in 2021, stabilizing to growth rates of around 1.32% in 2022 and 1.28% in 2023, forecasting steady growth up to 2028.
Output in 2023 stood at 147.62 Billion Euros. The forecasted data suggests a consistent but modest growth, with an average annual growth rate (CAGR) of 1.01% over the next five years, projecting a total growth rate of 5.14% by 2028.
Future trends to watch for include:
- Impact of renewable energy adoption on traditional supply sectors
- Government regulations and policies affecting the energy market
- Technological advancements in energy efficiency and smart grids
- Global energy price fluctuations influencing local supply and demand
