UK Utilities "UBS Evidence Lab inside: UK Wind Generation" Freshney

Research evidence excerpt

UK Utilities "UBS Evidence Lab inside: UK Wind Generation" Freshney

Powered by Lab Global21 JulyResearch2026ab Evidence UBS YES

UK Utilities Equities

United KingdomUBS Evidence Lab inside: UK Wind Generation

Utilities

Mark Freshney

Figure 1: GB wind output for largest players, TWh

Analyst

nd mark.freshney@ubs.com

+44-20-7568 3989

i

Gonzalo Sanchez-Bordona

w Analyst

gonzalo.sanchez-bordona@ubs.com

+34-91-745 4147

B Wanda Serwinowska, CFA

G

wanda.serwinowska@ubs.com

+44-20-7568 3980

ou tpu t for larges t players Christabel Kelly

, TWh Analyst

christabel.kelly@ubs.com

+44-20-7568 2358

Source: UBS Evidence Lab, contains BMRS data © Elexon Limited copyright and database right 2026, contains public Anna Webb

sector information licensed under the Open Government Licence v3.0. (> Access Dataset) Analyst

anna.webb@ubs.com

Geospatial offshore wind tracker +44-20-7568 8293

In this report, we show the UBS Evidence Lab industry dataset for wind output (> Access

Dataset). It contains monthly output for all major wind farms in GB. We identify the large

13 asset owners which have equity ownership of c76% of output. We see both

aggregate output and track data asset by asset, and hence can discern the quality of

output (i.e. focus on CfD assets). Note our analysis does not include constraint

payments, whereas companies usually do.

Record calendar Q2 wind output in 2026

Overall generation from the 13 largest players was 13.9TWh (prior year 13.2TWh). No

single month in Q2 was a record in itself (indeed, June was down yoy), but each month

was close to or slightly above average. In aggregate this was enough for a record

calendar Q2. We expect this is due to slightly higher wind speeds rather than more

assets. We think Q2 will be +c5% versus 30-year avg. We note c32% for SSE's offshore