The effect of decarbonisation on the power market
Although growing renewable build will compete with natural gas capacity, new coal and nuclear plant retirements will pave the way for natural gas generation balances to nearly double by 2035. In addition, overall power demand growing at a 0.7% CAGR highlights the extent of the shifting sentiment away from baseload coal and nuclear supply. Still, while natural gas demand from the power sector will experience a near-term bump, the longer-term trend will not pick up until the mid-2020s.
In our exclusive insight, we discuss these trends as well as:
- Coal and nuclear retirements
- Gas-fired generation
- the North American regions driving growth
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