Energy market turmoil sees Britain become a net exporter

Britain has become a net exporter of energy for the first time in more than a decade. According to Energy Live News, a study showed that exports netted £1.5 billion for the country. This equated to 5.5TWh or 8% of total energy generated.

The shift came as Russian cut gas supplies to Europe in response to sanctions imposed following its invasion of Ukraine. The UK responded by supplying as much power as possible to its European neighbours through subsea interconnectors. For more information on interconnectors see Engineering Matters episode #157 Interconnectors: The Green Link to Ireland.

The study was conducted by Imperial College London and UK power generation company Drax.

Iain Staffel from Imperial said, “Britain has played an important role in helping to keep the lights on across Europe amid the deepening energy crisis which is being weaponised by Russia against our nearest neighbours.

“With Europe now facing long-term security of supply problems, there could be an economic argument for Britain to step up investment in power production in the years ahead to build an even bigger trade surplus and protect our nation from damaging energy shortages.”

Ian Kinnaird from Drax added, “Britain desperately needs a new generation of pumped storage hydro plants to strengthen its own energy security, but it is clear the rest of Europe would benefit as well.

“We have the opportunity to become Europe’s power battery, helping our friends and neighbours reduce their dependence on energy from Russia whilst enabling more homegrown renewable electricity to power UK homes and businesses. It’s an opportunity which Britain should take, or risk being left behind by other countries.”

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