UK generates more electricity from zero carbon than fossil fuels (BBC)
- For the first time since the Industrial revolution, the UK has generated more of its electricity from zero carbon sources than from coal & gas.
- 48% of generation ytd (to end May) came from zero carbon, while 47% was from fossil fuels ( the rest was bio mass)
- Among the fossil fuels, coal fell to 3% of generation, while nuclear made up 18% of the zero carbon.
Analysis and Comments
- I want to highlight that the shift to variable renewables creates a number of investment opportunities in terms of grid balancing
- In the UK, this is the responsibility of National Grid. They currently make c. £1bn in grid balancing payments pa.
- While battery storage will play a role, I also see a potential place for fuel cells.