The U.K. consumes 15-20% less electricity now than it did in 2005 due to massive increases in efficiencies across homes and industry. There is a new nuclear plant coming online around 2025/2027 (years behind schedule and massively over budget) and there are massive investments in new, more powerful, higher capacity renewable electricity generators coming throughout the next decade that will increase our supply. There are plans in place to link our electricity markets up with Iceland, Norway and Denmark so we can rely on their powerful hydro batteries whenever the wind isn’t blowing strongly enough. Technology for storage via battery or hydrogen of excess renewables is also growing by leaps and bounds.
Re the interconnectors.
In addition to the five already in service (1 to each of France, Belgium, the
Netherlands, Northern Ireland and the Republic of Ireland), there’s three under construction now:
1GW to France (IFA2) - completes next year
1.4GW to Norway (North Sea Link) - completes next year
1.4GW to Denmark (Viking Link) - completes 2023
The Iceland link is unlikely.
More likely are further links to France - another is a long way through the development process: Aquind, 2GW.
Norway doesn’t have much (any?) in the way of pumped storage ‘hydro batteries’. Denmark doesn’t have any significant hydro at all, but does have a lot of installed wind power (although not as much as the U.K.), and also a lot of fossil fuelled plants. France has loads of nuclear, as well as a fair bit of wind, hydro and pumped storage.
The purpose of the interconnectors is so that we can export our excess wind energy to these countries such that they don’t need to use so much of their hydro and fossil fuelled plants. Then when it’s not windy here, we will make use of their hydro / nuclear / wind etc.
There have been several times this spring where it has been sufficiently windy and sunny that wind farms have been paid to not generate electricity and the whole sale price of electricity has gone negative. Indeed the average wholesale price of U.K. electricity for the last three months has been £25/MWh, which is astonishingly low, and less than half the average price for the year 2018. Some of this has been because oil and gas prices have collapsed due to the virus, but much is also because it has been sunny and windy in that period.
The new interconnectors are important because there is another 4GW of wind capacity under construction which will be in service in the next couple of years, and a further 10GW consented but yet to start construction. It’s reasonable to assume at least half of this will be generating by 2026; on windy and sunny days by then we will have something like 10GW of excess electricity to export, assuming electric cars aren’t sucking all that up (which is quite possible).