The United Kingdom is rapidly switching its power generation from base-load fossil-fuel/large-scale gas to flexible power gas and renewable sources (such as solar and wind energy). This has made it clear that the use of renewable energy results in instability and electricity shortages due to a lack of consistency from base-load and renewable power sources. This effect on electricity generation leads to limited power and an increase in price.
Mast Energy Developments PLC (‘MED’) acquires, develops and operates small-scale, flexible-power generation plants, with a goal to reach a 300 MW portfolio of safe, clean power. These plants will be fed into the United Kingdom’s national grid to contribute to stable electricity provision and prevent future shortages by balancing out the national grid at critical times, thereby reducing blackout events.
The UK is rapidly switching its power generation from base-load fossil-fuel/large-scale gas to flexible-power gas and renewable sources (solar and wind).
The use of renewable energy results in instability on the grid due to inconsistency of wind and solar to provide sufficient base-load power at all times.
A shortage in the UK’s gas supply and unreliable renewable energy sources will affect electricity generation, leading to limited power and an increase in price.
Of renewable energy generation in the UK in 2022.
In January 2021, the UK reached a record high in the price of electricity, which was repeated near the end of 2022.