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Electric power has transformed the course of humanity and has become a vital component of infrastructure building, thus nation and economy building. Generation of electric power is diverse in nature and the establishments in the industry keep innovating and reinventing technologies for a higher yield.

The power market consists of the establishments primarily engaged in operating electric power generation facilities and the establishments operating electric power transmission and distribution systems that control the transmission of electricity from the source to consumers.

The power generation can be from a variety of sources including fossil fuels such as coal, oil, natural gas; water, nuclear, solar, wind and other renewables. The transmission and distribution is carried out through a network of substations and its components like transformers, circuit breakers, switchgear, cables and smart grid.

In the last decade (2010-2020), the electricity generation has increased by 2.2% from 21,570 terawatt hours to 26,823 terawatt hours. During the same period, the power generation from oil decreased by 2.24%, gas increased by 2.55%, coal increased by 0.88%, nuclear decreased by 0.25%, hydro increased by 2.26%, renewables increased by 15.25% and from other sources increased by 0.68%.

The power generation market is undergoing a systemic change where the maximum increase in new power generation capacity is primarily from renewable energy generation sources. The share of renewables in the total energy mix grew from 3.53% in 2010 to 11.73% in 2020.

United Kingdom (UK) Power Generation Scenario

In 2020, the electric power generation in the United Kingdom (UK) was 312.76 terawatt hours, accounting for 1.17% of the power generation in the world. The percentage of population with access to electricity was 100. 0.28% of the power was generated from oil, 36.49% from gas, 1.74% was from coal, while 40.87% was from renewable sources. Among the renewable sources, solar accounted for 10.01% and wind accounted for 59.15%. During 2015-2020, the electricity generation decreased by 1.59%.

The installed capacity of Solar Photovoltaic in the United Kingdom (UK) was 13563 MW while for wind it was 24665 MW. The capacity increased by 7.15% and 11.51% for solar and wind respectively, since 2015.

In the same year, the average electricity price in the United Kingdom (UK) for the residential sector was US Cents 17.7/kWh, while, for the commercial sector it was US Cents XX/kWh.

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