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Yes - the main reason is that coal electricity generation is close to disappearing completely in the UK when it used to be baseload c.10 years ago. Change in th
by tomatocracy 7y ago
Yes - the main reason is that coal electricity generation is close to disappearing completely in the UK when it used to be baseload c.10 years ago. Change in the car fleet has also contributed a fair amount, mostly by replacing old less carbon-efficient petrol engines with newer diesel or smaller turbocharged petrol engines.
The move away from coal is much more driven by economics than the LCPD - once wind is built, it will always dispatch before coal, and the UK subsidised a lot of offshore wind build over the past 10-15 years through various mechanisms (ROCs, CfDs, some small tax incentives, historically also state investment through the Green Investment Bank, EIB and arguably corporate "greenwashing" spend).
On top of that, the UK also takes a large share of private investment in green power generation as a result of its reputation as a fair investment destination (predictable legal environment, creditor-friendly insolvency regime, etc) so it's been an obvious destination for private capital looking to invest in green power generation "somewhere" with low risk.