U.K. Risk of Power Blackout Growing by 2016, Regulator Says

The risks that the U.K. suffers a major power blackout will rise toward the middle of the decade as aging generators retire from service, the nation’s energy regulator said.

Ofgem said the margin of electricity supply capacity over demand could narrow to between 2 percent and 5 percent by 2015 and 2016. That means the statistical risk of a disruption rises to once every 12 years by 2016 from once in every 47 years now, the regulator said in a statment today.

“Ofgem’s latest report on electricity security of supply highlights the need for reform to encourage investment in generation,” said Andrew Wright, chief executive officer of Ofgem.