Our homes are increasingly internet connected, 24 million households had broadband at the end of 2015. This connectivity enables many aspects of our lives to far easier than they used to be e.g. switching providers for utilities, car and home insurance, can be completed within minutes and customers can save hundreds of pounds. Having the power to switch provider so swiftly has improved customer confidence in engaging with markets and has also increased customer expectations of service providers.
Energy UK blogs
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A changing generation fleet coupled with likely increased demand through electrification of transport and heating means that significant investment in the energy sector is needed going forward. The UK Government expects that over £140bn needs to be invested in new generation capacity by 2030 and a further £40bn on enhancing the network; other sources have put these figures even higher.
In 1951 the first grid-connected wind turbine to operate in the UK was first connected in the Orkney Islands, since which the UK has gone on to become a world-leader in renewable energy. The diversity and dynamism of the industry has enabled exponential growth coupled with plummeting costs and significant efficiencies across the sector, supported by substantial investments from existing companies and new entrants to the UK energy market. Investments which will need to continue if, as the government suggests, 95GW of new electricity generating capacity will need to be installed over the next two decades with the majority of this capacity provided by renewable and low carbon sources. The UK has consistently proven itself to be an attractive place to invest in renewable energy however with the size of projects growing and the increasingly innovative nature of technology being used the need for transparency, policy stability and a clear route-to-market hasn’t been greater.
A year ago at Energy UK’s Annual Conference, the energy supply sector was awaiting the outcome of the CMA’s two year energy market investigation. Looking ahead to 2016 we hoped the CMA would provide much needed solutions to help restore trust in the industry. Industry also anticipated the 'go live' of the smart Data Communications Company (DCC), enabling the mass smart rollout to begin in earnest. So a year later, where are we now?
Energy UK’s Annual Conference isn’t far away now and I am, as a member of the generation team at Energy UK, looking forward to the panel session on ‘progress in our energy mix’.