Electricity: Prices
(asked on 24th June 2016) - View Source
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Energy and Climate Change, what forecast her Department has made of wholesale electricity prices in each of the next 35 years.
Projections of wholesale electricity prices up to 2035 are available in Annex M of the 2015 Energy and Emissions Projections, published online by DECC at:
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/477625/Annex-m-price-growth-assumptions.xls and reproduced below.
Projected wholesale electricity price (p/kwh, 2015 prices)
Year | Reference scenario | Low fossil fuel price scenario | High fossil fuel price scenario |
2016 | 4.8 | 4.0 | 5.7 |
2017 | 5.2 | 4.2 | 6.3 |
2018 | 4.8 | 3.6 | 6.0 |
2019 | 4.6 | 3.3 | 6.0 |
2020 | 4.9 | 3.4 | 6.2 |
2021 | 5.4 | 3.8 | 7.1 |
2022 | 5.8 | 4.1 | 7.2 |
2023 | 6.0 | 4.2 | 7.5 |
2024 | 6.5 | 4.7 | 8.0 |
2025 | 6.7 | 4.8 | 8.3 |
2026 | 6.9 | 4.9 | 8.3 |
2027 | 6.9 | 5.1 | 8.3 |
2028 | 6.6 | 5.0 | 7.9 |
2029 | 6.6 | 5.1 | 7.8 |
2030 | 6.6 | 5.4 | 7.9 |
2031 | 6.6 | 5.4 | 8.2 |
2032 | 6.6 | 5.7 | 8.3 |
2033 | 6.3 | 5.4 | 7.4 |
2034 | 6.7 | 5.5 | 7.8 |
2035 | 6.1 | 5.0 | 6.8 |