£22.2 bn To Be Spent Upgrading UK Electricity Network To Make It Greener

NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

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Regulator Ofgem has proposed price controls on Britain’s energy distribution operators and new expectations for them to make the electricity grid greener.

The controls will run from April next year until 2028 and are focused on driving the move away from importing fossil fuels and relying on expensive gas.

Grid capacity will also be boosted in order to pave the way for cheaper greener energy as more products become reliant on electricity.

The businesses include Southern England’s UK Power Networks and SP Energy Networks in southern Scotland, among others.

They will need to invest a total of £22.2bn between 2023 and 2028 to help Britain prepare for a future where more homes and businesses opt for electric cars and heating.

The potential of renewable energy sources such as wind, solar, and wave power require changes in the way energy is used and stored to gain their benefits…

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