As of 2023, the fossil energy gross inland consumption in the UK stood at roughly 135.4 million tonnes of oil equivalent. The forecasts from 2024 to 2028 show a consistent year-on-year decline in consumption with a decrease of approximately 2.2% each year. Over the last five years, the compound annual growth rate (CAGR) suggests an average annual decrease of about 2.1%.
Future trends to watch for include:
- Increased adoption of renewable energy sources as the UK progresses towards its net-zero targets.
- Potential regulatory changes affecting fossil fuel usage and associated economic impacts.
- Technological advancements in energy efficiency potentially reducing overall energy consumption.