Wednesday, August 10 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Aug 08
Week of Aug 01
Week of Jul 25
Week of Jul 18
Week of Jul 11
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    UK energy regulator proposes GBP 20.9bn five-year plan for local grids


    July 1, 2022 - SeeNews Renewables

     

      July 1 (Renewables Now) - UK energy regulator Ofgem on Wednesday presented its five-year vision for local energy grids that supports the transition to net zero.

      The plan is the regulator’s draft determinations for the price control covering the five-year period to March 31, 2028.

      The proposed package amounts to GBP 20.9 billion (USD 25.3bn/EUR 24.4bn) to operate, maintain and enhance the local grids and includes baseline investment of GBP 2.7 billion in network upgrades to back the uptake of electrical vehicles (EVs), heat pumps (HPs) and the addition of more local, low-carbon generation such as solar and wind.

      Ofgem said the proposals will boost grid capacity, improve resilience and prepare for increased generation of greener, home-grown energy, which has become the cheaper and more secure option.

      Under the plans, increased investment for net zero will be delivered through tough efficiency targets on networks and lower returns for investors without increasing network charges on consumer bills.

      “These are challenging times, and this is the path out of relying on expensive and polluting imported fossil fuels and moving to a home-grown energy system, that exploits the best of modern technology to level out demand and reduce costs for consumers,” said Ofgem chief executive Jonathan Brearley.

      In Great Britain, there are 14 electricity distribution network operators (DNOs) managed by six companies. A consultation on the draft determinations will run till August 25.

      (GBP 1 = USD 1.210/EUR 1.165)

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.