September 11, 2024

Britain is now spending a record £250 million a month on electricity imports, driven by the closure of coal-fired and nuclear power stations, according to new analysis.

During the second quarter of this year, 20% of Britain’s electricity demand was met through interconnectors with neighboring countries, energy company Drax reported. The volume of power imported, around 12.2 terawatt hours, was double that generated by wind and solar farms and four times the amount Britain exported.

Drax estimated that the cost of these imports exceeds £250 million per month, totaling roughly £3 billion annually if sustained.

The growing reliance on imported electricity follows the shutdown of many of Britain’s aging coal and nuclear power plants. Coal generation is set to be phased out entirely as the country moves toward net zero carbon emissions, while no new nuclear plants have been built since Sizewell B in 1995.

The analysis, conducted by researchers at Imperial College London for Drax’s quarterly electricity insights report, highlights the impact of these closures. Iain Staffell, an electricity systems expert at Imperial, explained that fewer dispatchable generators, like coal and nuclear, have led to reduced competition and higher prices, making cheaper electricity imports from Europe more attractive.

Staffell emphasised the need for the government to maintain sufficient dispatchable generation capacity to ensure energy security and affordability as it works toward a clean power grid by 2030. While renewable energy is crucial, Britain will continue to need reliable power sources to ensure grid stability.

However, Staffell noted that interconnectors could enhance energy security if domestic generation is kept strong. Should Labour achieve its goal of a net-zero power grid by 2030, excess electricity could be exported, generating revenue for the UK.

“With more storage capacity or by selling surplus power abroad, Britain could potentially benefit from lucrative export opportunities during periods of high wind in the North Sea and calmer weather in Europe,” Staffell said, adding that such exports could help lower consumer bills.