section_path: Economy/Energy
section_name: Energy
paragraph_text: Energy
  
  In 2021 the UK was the world's 14th-largest consumer of energy and the 22nd-largest producer. It is home to many large energy companies, including two of the six major oil and gas companies – BP and Shell.
  
  Renewable electricity sources provided 51 per cent of the electricity generated in the UK in 2024. Wind power was the largest source of electricity in 2024, generating 30 per cent of the UK's total electricity. The UK has the largest offshore wind farm in the world, which is located off the coast of Yorkshire.
  
  In 2023 the UK had nine nuclear reactors generating about 15 per cent of the UK's electricity. There are two reactors under construction and more planned. In the late 1990s nuclear power plants contributed around 25 per cent of the total annual electricity generation in the UK, but this has gradually declined as old plants have been shut down. The UK government is investing in small modular reactors that operate via nuclear fission, as well as in research and development towards commercial fusion reactors. To that end the government entered into a partnership with the US in late 2023 to collaborate on fusion technology, with "a commercial grid-ready fusion reactor by 2040" stated as a goal.
  
  At the end of 2023 it was estimated that there was 1.1 billion boe (barrels of oil equivalent) of "proven" and "probable" gas reserves and 2.3 billion boe of "proven" and "probable" oil reserves offshore, reducing reliance on imports for energy security and transitioning to renewables. Emissions from UK gas production are roughly four times lower than imported liquefied natural gas (LNG), according to the UK's oil and gas regulator.
  
  In September 2024 the last coal power station was closed, making coal no longer a power source in the UK. The UK currently has no fracking (hydraulic fracturing) for shale gas despite a large supply, due to environmental concerns.