The UK has not used coal for electricity for three weeks, the longest period since mid-2020, when pandemic restrictions depleted electricity demand.
According to Bloomberg, coal use has been slowly declining in Britain’s electricity grid in view of the complete abolition set for 2024, but the importance of polluting fuel has increased in recent months, as gas prices have skyrocketed. record.
Britain last used coal-fired power on May 5, according to the National Grid. In May 2021, coal accounted for just 1% of the country’s electricity, up from 21% five years earlier.
Most of the UK’s coal facilities have been phased out. The operation of plants that continue to generate electricity through coal is not profitable, because the cost of British gas has been reduced compared to that of mainland Europe, giving an advantage to gas plants, according to Glenn Rickson, head of analysis European Energy at S&P Global Commodity Insights. British coal will be “without money until July”, he added.
The previous longest carbon-free series in the UK lasted almost 67 days and ended in June 2020.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
