New Market Study, "United Kingdom Power Report Q1 2013", Has Been Published

Fast Market Research recommends "United Kingdom Power Report Q1 2013" from Business Monitor International, now available

by Bill Thompson

(WireNews+Co) - Boston, MA - 18 February 2013

BMI View: With around a fifth of existing installed electricity generating capacity in the UK scheduled to come offline in the next decade, the UK faces a growing energy deficit. The government's energy bill, published in November 2012, comes at a crucial time, given the current energy insecurity in the country.

It includes a focus on nuclear, renewable and gas sources of power generation, as well as Carbon Capture and Storage technology as a means of keeping emissions under control. The real winners is gas, which will play a key role in future electricity generation in Britain with plans for up to 26 gigawatts of gas-fired plants required by 2030. The role that gas will play has also gained importance as the government lifted a ban on hydraulic fracturing exploration techniques - a controversial practice that has divided the British government and public.

View Full Report Details and Table of Contents (http://www.fastmr.com/prod/536452_united_kingdom_power_report_q1_2013.aspx?afid=201) (http://www.fastmr.com/prod/536452_united_kingdom_power_report_q1_2013.aspx?afid=201)

Key trends and developments in the British electricity market:

- In December 2012, the Department for Energy and Climate Change announced that hydraulic fracturing (fraccing) for shale gas in the UK can resume. The government is putting considerable emphasis on the role of gas in electricity generation in its energy bill, and shale gas is likely to play an important part in this.
- Financial instability regarding Feed-in Tariffs (FiTs) in the renewable energy sector, but offshore wind is one area that is gaining strength, with Scottish and Southern Energy (SSE) announcing in October 2012 that it has applied to the Scottish government to construct a 3.5-gigawatt offshore wind farm in the North Sea.
- Utility SSE acquired BP's Sean gas field from BP in December 2012, in a US$288mn deal. SSE will use the gas to fuel its gas-fired power stations. Given the increasing role that gas will play in Britain's electricity generating mix, the move should help strengthen SSE's market position.
- Nuclear sources of power received a boost in Q412, with the news that the Office for Nuclear Regulation has given a nuclear power plant in Cheshire a licence to create one enlarged site. EDF also announced that it has started plans for the construction of Sizewell C nuclear power plant, on the existing 1,191- megawatt Sizewell station in Suffolk. In addition, EDF Energy announced that it plans to extend the operational lifespan of Hinkley Point B and Hunterston B nuclear power stations by seven years.

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