The UK electricity sector contributed a turnover of £17.5 billion to the country's economy in 2017, an increase of 4.1% from the previous year, thanks to rising prices. The country's electricity sector is generated by a share of 50% fossil fuelled power, 30% renewable power and 20% nuclear power. However, fossil fuel use continues to see a decline, while renewable power is enjoying strong growth.
With the oil and gas industry regular having increased its forecast regarding the recovery from UK waters over the next 30 years, it is expected that a further 11.7 billion barrels of oil or the gas equivalent could be brought up by 2050. A total of over 43 billion barrels have already been recovered from UK waters.
The oil and gas industry has seen investment on large scale in recent years. In 2004, £1.1 billion was spent on exploration by the industry, while £14.8 billion was spent on capital investment and £9.6 billion on operating costs. In 2017, 2.1 million consumers switched their gas supplier, 677,000 of which opted for a small or medium enterprise, demonstrating the potential for smaller companies to steal custom from the top platers.
MoreThe UK has a substantial ventilation and air conditioning industry, worth around £1.2 billion currently. The main sectors within this are products for air conditioning, and ventilation and accessories, with the former making up more than 50% of the whole market value alone.
At Global Database we've used the data held in our electricity, gas, steam and air conditioning supply B2B directory to create a list of the industry's biggest companies. View the results below to see which UK businesses are currently turning over the most revenue in the industry.
