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British regulator Ofgem has announced a new five-year, £25bn investment plan to transform the UK's energy grid
.
The plan aims to enable the nationwide provision of emission-free green energy and reach national net-zero targets, while maintaining a high level of service and grid reliability
.
Ofgem noted that the new investment will also help generate green growth and jobs, stressing that the aim is to keep costs as low as possible by coming up with the lowest ever return on capital for grid companies and encouraging companies to increase efficiency by expanding new businesses
.
As well as allocating funds to maintain and operate gas distribution, gas transmission and electricity transmission networks, Ofgem has also asked grid providers to come up with investment plan ideas
in the current price controls.
Price controls are likely to support further £10bn or more of investment to help cover the cost
of emission-free energy and infrastructure upgrades.
Ofgem stressed that such measures would only be approved
if they provided decarbonisation services to consumers at the lowest cost.
British regulator Ofgem has announced a new five-year, £25bn investment plan to transform the UK's energy grid
.
The plan aims to enable the nationwide provision of emission-free green energy and reach national net-zero targets, while maintaining a high level of service and grid reliability
.
Ofgem noted that the new investment will also help generate green growth and jobs, stressing that the aim is to keep costs as low as possible by coming up with the lowest ever return on capital for grid companies and encouraging companies to increase efficiency by expanding new businesses
.
As well as allocating funds to maintain and operate gas distribution, gas transmission and electricity transmission networks, Ofgem has also asked grid providers to come up with investment plan ideas
in the current price controls.
Price controls are likely to support further £10bn or more of investment to help cover the cost
of emission-free energy and infrastructure upgrades.
Ofgem stressed that such measures would only be approved
if they provided decarbonisation services to consumers at the lowest cost.
