Britain has found itself increasingly reliant on electricity imports from Europe, shelling out a staggering £3.5 billion on power from France, Norway, Belgium, and the Netherlands last year. The data, revealed by London Stock Exchange (LSEG) Power Research, indicates that this amounted to 12 percent of the UK’s net electricity supply.
The rising dependence on foreign power is attributed to the closure of coal and nuclear power plants, leaving the nation grappling with energy generation challenges.
France alone accounted for around £1.5 billion of electricity sold to the UK in the year leading up to November 2023, while Norway earned approximately £500 million, The Telegraph reports.
The electricity imports are facilitated through an expanding network of interconnector cables, designed to enhance collective resilience and energy security among neighbouring countries.
However, the closure of British power stations has resulted in a shift from a balanced exchange to a predominantly one-way flow, with the UK now relying heavily on its European counterparts.
Angus MacNeil, chairman of the Commons energy select committee, expressed support for interconnector cables, highlighting their role in boosting energy security. Nevertheless, he stressed the importance of maintaining a balance in power and financial flows. He said: “The French will be rubbing their hands – it’s easy money for them. The ideal is for the flows to be neutral overall in terms of both the flows of power and of money.”
The closure of coal-fired power stations like West Burton A in Nottinghamshire and nuclear stations such as Hinkley Point B has impacted Britain’s capacity to generate electricity. While new wind and solar farms have been introduced to compensate, their intermittent nature poses challenges, especially during periods of low wind or heavy cloud, known as “dunkelflaute”.
Nathalie Gerl, an analyst at LSEG Power Research, highlighted the potential benefits of importing cheaper electricity from abroad. She noted that this could reduce the occurrence of price spikes and potentially lower the overall wholesale price level.
A National Grid spokesman acknowledged the challenges and outlined the efforts to transition away from fossil fuels, emphasising the importance of the Great Grid Upgrade. He said “interconnectors will provide the UK with an opportunity to share any abundance of new clean electricity from where it is generated to where it is needed” as part of the broader goal to achieve net-zero emissions.
