Energy Network Innovation Shown to be Cutting Costs and Reducing Carbon Emissions

A new report has shown that network innovation funding introduced in 2010 could deliver up to £8.1 billion in benefits for electricity customers and reduce carbon emissions by saving up to 215 million tonnes of CO2. 
 
Poyry have published an independent review of the Low Carbon Network Fund (LCNF), which was introduced in 2010. LCNF gave distribution network operators (DNOs) the opportunity to trial smart grid technologies and innovation projects that will help meet the challenges associated with the transition to a low carbon energy system. 
 
The review found that the estimated net benefits of the LCNF has been calculated to be £1 billion if projects are implemented – three times the cost of the schemes. The benefits could be between £4.8 billion and £8.1 billion if the innovation is successfully adopted GB-wide.
 
The review also shows that the projects trialled through the LCNF are expected to save up to 215 million tonnes of CO2 over their lifetime.
 
Energy Networks Association Chief Executive David Smith said,  
 
“This report demonstrates that innovation funding has been very successful in enabling energy networks to deliver the innovative solutions that will be vital to overcoming the significant challenges of decarbonisation. 
 
The outcomes from network innovation projects are already being rolled out into business as usual in some areas and will deliver around £900 million of benefits to customers under the current price control.”
 
ENDS 
 
Notes for 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:
 
Matthew Pringle Press and Public Affairs Officer Energy Networks Association
Direct Email: [email protected]
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