The UK is decarbonising its electricity generation faster than anywhere else in the world. According to National Grid (NG.) projections, 2019 is set to be a “tipping point” whereby more of Britain’s electricity will come from zero-carbon sources – wind, solar, nuclear and hydro power – than fossil fuels such as coal and natural gas. Just a decade ago, fossil fuels made up more than three-quarters of the UK’s electricity supply. Aside from climate change concerns, increasing scale and falling costs have brought us to the cusp of an energy revolution. Bloomberg’s 2019 New Energy Outlook forecasts renewables will rise to an incredible 87 per cent of the UK’s electricity generation by 2050. As the evolution of the UK’s energy mix unfolds, the question is how investors can best position themselves to capitalise on these changes.
Blowing away the competition