ENA and Ofgem unlock £300m for a green recovery

Electricity network companies are to invest potentially hundreds of millions of pounds in network capacity to support shovel-ready projects across Britain over the next two years.

Working with Ofgem, Energy Networks Association (ENA) members have drawn up plans to unlock early investment in the grid to support the technologies of tomorrow to be delivered quickly, driving green jobs and green growth across Great Britain.

Launching a six-week call for local authorities, developers and other parties to state the case as to why extra capacity in their locality should be selected for investment, ENA has asked for projects that are shovel-ready and will underpin the transition to a net-zero carbon emissions economy, in line with Government targets.

With tens of millions of pounds available for investment in each distribution network licence area, there is up to £300m available across Great Britain, in part sourced from network companies’ existing allowances, where they have delivered efficiencies from the RIIO-ED1 price control period. These existing funds as well as newly raised funds will be reallocated to help fast-track network capacity investment in places where it will support green developments. This investment will be directed to the most efficient.

Evidence will be gathered throughout the six-week call period and used to determine which of the distribution network operator sites (or additional sites that are proposed as suitable) meet the core criteria of utilisation, deliverability and value for money.

Jonathan Brearley, Chief Executive of Ofgem, commented: “With the clock ticking on the UK’s race to hit net-zero carbon emissions, we cannot afford to delay in building a clean energy infrastructure that will help power our transport and heat our homes emissions-free.”

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