DECC report outlines vital investment in energy networks
Thursday 8 January 2015
A report published this morning by the Department for Energy and Climate Change has outlined the vital role the UK's energy networks will play in meeting future energy challenges.
'Delivering UK Energy Investment: Networks' provides a detailed account of the investment, which will be required in the wires and pipes of the UK's energy system over the coming decades. The report estimates that between 2014?2020 over £34bn could be required in our electricity network and £7.6bn across our gas networks, from 2014?2021. That investment will allow our networks to continue to deliver a secure and reliable service, whilst accommodating more renewable sources and keeping costs to consumers as low as possible.
The report reveals that the innovation underway in the sector to deliver the smarter networks of the future will save customers up to £12bn by 2050, as new technology improves efficiency.
The report also highlights the important contribution which our energy networks make to economic growth and employment in the UK. Investment in smart networks will not only improve energy security and the integration of low carbon generation; it will also support 9,000 jobs over the 2020s and 2030s and contribute up to £5bn in exports.
Commenting on the report David Smith, Chief Executive of Energy Networks Association said:
"Our energy networks have a strong record of delivering improved performance at a low cost to customers. This report does a good job in highlighting the challenges the sector faces if it is to build on that strong record over the coming decades.
The remarkable innovation which is already progressing in the sector will mean that the UK's energy networks will be delivering record investment whilst ensuring that the cost to consumers remains flat into the next decade. By investing in smarter networks the UK has an opportunity to become a world leader in the field, with the potential to deliver significant economic benefits.
At the same time, our networks will support thousands of highly skilled jobs, and create career opportunities for young people across all regions of the UK."
Notes to editors
ENA is the voice of the networks representing the ‘wires and pipes’ transmission and distribution network operators for gas and electricity in the UK and Ireland.
For further information please contact:
Tim Field MCIPR
Head of Press and Public Affairs
Energy Networks Association
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