This sector contributed £458m (GVA) to the Somerset economy in 2020, roughly 4.2% of total output. Due to this sector including, among other things, electric power generation, supply and distribution, a significant portion of the total contribution comes from West Somerset, where the Hinkley Point nuclear power station is situated. In fact, Somerset West and Taunton contributed 63.5% of the Somerset total, some £291m, and 8.9% of the district’s entire economic output. The remainder of the contributions for this sector are split fairly evenly among the remaining districts within Somerset, which might be expected given that much of the remainder is likely to be accounted for by waste services, water services, and sewerage activities.
This sector accounted for more than 3222 full-time equivalent (FTE) jobs in Somerset in 2020, approximately 1.4% of all employment in the county compared to a national average of 1.7%. Approximately 57% of these jobs (1,851) were in Somerset West and Taunton, 19% (618) in South Somerset, 16% (514) in Sedgemoor, and 7% (238) in Mendip. When we consider the concentration of jobs in this sector across districts, Somerset West and Taunton stands out.
Measured as GVA per FTE job, productivity in this sector in Somerset in 2020 was £141,970. Productivity is higher in this sector than in any other bespoke sector defined and analysed here. Due to the presence of the nuclear power station at Hinkley and the significant contribution this makes to GVA, productivity in this sector in West Somerset was £157,000.
Source: Economic Model for Somerset and the Heart of the South West (HotSW) Local Enterprise Partnership, 2022