U.K. Power Industry Takes $1.4 Billion Hit From Coronavirus
- Drop in consumption saved 3.4 million tons of carbon dioxide
- Threat of second virus wave creates uncertainty into winter
This article is for subscribers only.
Britain’s power industry lost 1.1 billion pounds ($1.4 billion) in the five months to August as reduced electricity demand and wholesale prices cut revenues for suppliers, generators and grid companies.
The drop in consumption meant that 3.4 million tons of carbon dioxide emissions weren’t pumped into the atmosphere, according to analysis by Hartree Solutions. That’s about 1% of the U.K.’s annual CO2 emissions in 2019.