Key Takeaways

• Gas-fired electricity generation in Great Britain fell to its lowest level in 20 years, totaling 72.6 TWh in 2024.
• Renewable energy sources, particularly wind, accounted for 45% of the electricity generation mix, up from the previous year.
• Electricity imports reached a record high, with net imports averaging 3.8 GW, a 40% increase from 2023.

Renewables Drive Down Gas-Fired Output

A new report from Montel Analytics reveals a historic decline in gas-fired electricity generation in Great Britain, which fell to 72.6 terawatt-hours (TWh) in 2024. This marks a significant drop from 86.8 TWh in 2023 and 111.4 TWh in 2022. The report attributes this decline primarily to a substantial increase in renewable energy output, which reached 118.1 TWh, a slight rise from 116.9 TWh in 2023.

Renewable generation contributed 45% to the overall energy mix, with wind power being the leading source, accounting for 70% of renewables. Average wind generation hit a record high of 9.43 gigawatts (GW), outperforming previous years despite some generation being curtailed due to transmission system limitations during high production periods.

The increase in electricity imports also played a critical role in reducing gas-fired output. Average net imports totaled 3.8 GW, a 40% increase compared to 2023, with France and Norway being the primary sources. This marks the highest level of imports recorded in the past decade.

Despite a general decline in gas prices early in the year, due to prolonged wind production from storms, prices saw an upward trend later—partly driven by geopolitical tensions, intermittent outages, and seasonal demand fluctuations. The annual average gas price decreased by 16% to £28.63/MWh, while day-ahead wholesale electricity prices fell even more steeply, down by 23% to £72.58/MWh.

The report highlights an increase in negative electricity prices, with GB experiencing negative prices for 139 hours in 2024, significantly higher than the 86 hours in 2023. Montel Analytics’ Director Phil Hewitt noted that, while gas prices decreased overall, there are concerns regarding reserve levels, particularly following a recent cold snap that prompted warnings about gas shortages.

On another notable front, the report marks the end of coal generation in Britain after 142 years, concluding with the closure of the last coal station at Ratcliffe-on-Soar in September. Additionally, nuclear power generation fell to a historical low of 38.2 TWh, hindered by operational outages across the fleet.

In summary, the shift towards renewable energy sources in Great Britain has had pronounced effects on the electricity generation landscape, significantly diminishing reliance on gas and contributing to a diverse energy mix, where renewables now represent the dominant force.

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