Leading the green recovery electricity network companies are to invest over £300 million in network capacity for electric transport, clean heat and wider infrastructure development.
Following a successful call for evidence, in which local authorities, developers and other parties stated the case for extra network capacity to receive investment, Ofgem has confirmed Britain’s energy networks will now accelerate funding over the next 12-24 months.
David Smith, Chief Executive of Energy Networks Association which represents the UK and Ireland’s energy networks businesses said:
“With just a few months left until COP26 we are delighted to have been able to bring forward such a crucial enabler of the Prime Minister’s green recovery ambitions. Delivering a green recovery for seas, skies and streets, over £300m of electricity distribution network investment will enable wide-ranging projects which help tackle some of our biggest Net Zero challenges, like electric vehicle range anxiety and the decarbonisation of heavier transport.
“This new funding shows the social, economic and environmental benefits that can be brought forward by industry working closely with a flexible regulator.”
Projects which will benefit from network investment include those in the areas of electric flight, shipping, heating and road transportation. These projects will not only play a critical role in driving a green recovery but will provide a foundation for the emerging technologies needed for a Net Zero future. Details of some of the projects benefitting can be found below.
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About Energy Networks Association
Energy Networks Association (ENA) is the industry body representing the electricity wires, gas pipes and energy system in the UK and Ireland.
ENA helps its members meet the challenge of delivering electricity and gas to communities across the UK and Ireland safely, sustainably and reliably.
Its members include every major electricity and gas network operator in the UK and Ireland, independent operators, National Grid ESO which operates the electricity system in Great Britain and National Gas which operates the gas system in Great Britain. Its affiliate membership also includes companies with an interest in energy, including Heathrow Airport and Network Rail.
What are energy network operators?
Energy network operators manage and maintain the wires, pipes and other infrastructure which delivers electricity and gas to your home, business and community. They are private companies which are regulated by Ofgem and employ around 40,000 people in Great Britain.