The risk of power cuts in the UK, for a variety of reasons, remains real. Low plant margins (i.e. limited spare capacity at peak) in the UK are obvious enough. However, the events of 28 April 2025 ‒ when Spain, Portugal and parts of France were plunged into lengthy power outages ‒ were very disconcerting. A recent Spanish government report has now placed much of the blame on the national system operator, the Redeia-owned Red Electrica. There was some criticism, too, of unnamed private sector generators in causing grid instability.
Redeia’s UK counterparty, National Energy System Operator (NESO), will have been following these developments particularly closely. With more renewable generation on a system that was originally built around coal-fired plant – and therefore generally sited close to coalfields – maintaining grid stability has become immensely complex, and it remains a major challenge for NESO.

30 Jun 2025
The Hardman & Co Monthly: July 2025
Volta Finance Limited (VTA:LON), 655 | Real Estate Credit Investments Limited (RECI:LON), 131 | NB Private Equity Partners Limited Class A (NBPE:LON), 1,420 | ICG Enterprise Trust PLC GBP (ICGT:LON), 1,381 | Arbuthnot Banking Group PLC (ARBB:LON), 950 | Apax Global Alpha Ltd. (APAX:LON), 0 | accesso Technology Group Plc (ACSO:LON), 514

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The Hardman & Co Monthly: July 2025
Volta Finance Limited (VTA:LON), 655 | Real Estate Credit Investments Limited (RECI:LON), 131 | NB Private Equity Partners Limited Class A (NBPE:LON), 1,420 | ICG Enterprise Trust PLC GBP (ICGT:LON), 1,381 | Arbuthnot Banking Group PLC (ARBB:LON), 950 | Apax Global Alpha Ltd. (APAX:LON), 0 | accesso Technology Group Plc (ACSO:LON), 514
- Published:
30 Jun 2025 -
Author:
Mike Foster | Nigel Hawkins | Mark Thomas | Richard Jeans -
Pages:
19 -
The risk of power cuts in the UK, for a variety of reasons, remains real. Low plant margins (i.e. limited spare capacity at peak) in the UK are obvious enough. However, the events of 28 April 2025 ‒ when Spain, Portugal and parts of France were plunged into lengthy power outages ‒ were very disconcerting. A recent Spanish government report has now placed much of the blame on the national system operator, the Redeia-owned Red Electrica. There was some criticism, too, of unnamed private sector generators in causing grid instability.
Redeia’s UK counterparty, National Energy System Operator (NESO), will have been following these developments particularly closely. With more renewable generation on a system that was originally built around coal-fired plant – and therefore generally sited close to coalfields – maintaining grid stability has become immensely complex, and it remains a major challenge for NESO.