The UK energy market has a long and varied history. Starting in the late 19th century, the focus was on producing electricity from coal-fired power stations. This continued until the 1970s when rising oil prices and increasing demand for electricity saw the development of nuclear power stations as a major source of energy supply. With the growth of the renewables sector in the 2000s, energy production from renewable sources such as solar and wind began to increase significantly.
The move towards a more decarbonised energy system also saw changes in how electricity was generated and consumed. In particular, the introduction of smart meters has enabled customers to be more aware of their energy usage and make informed decisions about their own consumption. This has helped to reduce overall energy demand, making it easier for businesses to manage their costs.
Today, the UK energy market is very competitive with a range of providers offering different tariffs and services. There are both traditional suppliers as well as new entrants who offer innovative products and services that appeal to different customer needs. The government’s Renewable Obligation scheme also provides incentives for companies to move towards a more sustainable energy system.
