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.
Key case study map
About Energy Networks Association
We’re the industry body for the energy networks. Our members own and operate the wires and pipes which carry electricity and gas into your community, supporting our economy. The wires and pipes are the arteries of our economy, delivering energy to over 30 million homes and businesses across the UK and Ireland. To do this safely and reliably, the businesses which run the networks employ 45,000 people and have spent and invested over £60 billion in the last eight years.