The production value of the electric power sector in the UK has shown variability over the past decade. For instance, the year-on-year change in 2014 was 10.42%, but this dropped to -9.16% in 2016. The CAGR also reflects these fluctuations, peaking at 8.18% in 2015 before hitting -1.8% in 2020. Recently, the value showed a modest increase of 1.16% in 2023.
Looking ahead, the forecasted 5-year CAGR from 2023-2028 stands at 0.93%, suggesting a milder annual growth rate. Attention should be given to the adoption of new technologies, regulatory changes, and sustainability initiatives that could significantly influence future trends.
