US Edition
Ofgem Approves £24bn Investment Into UK Energy Networks
- Ofgem approved a £24 billion investment program to upgrade the UK's energy infrastructure starting in 2025.
- The approval follows rising energy prices caused by geopolitical tensions, including Russia’s 2022 invasion of Ukraine.
- This program includes over £15 billion for gas systems and nearly £9 billion for expanding the high-voltage electricity grid.
- Ofgem stated the grid upgrade will entail 80 transmission projects and aims to increase grid capacity by more than double by 2030.
- Households may see an average £104 yearly rise in bills by 2031 due to network costs, but the upgrade is expected to improve reliability and energy independence.
33 Articles
33 Articles
UK’s £24bn energy grid upgrade
Britain’s Energy System is changing, and it’s happening quite expensively so. In what is being called the biggest grid overhaul since the 1960s, the UK is preparing to spend £24 billion on rewiring its own energy networks. It’s going to include new lines, faster circuits, and upgrade the transformers that are all built in to handle the surge of clean power that’s coming. This will stop the… Source
Ofgem Unveils £24 Billion Grid Modernization Plan
The UK’s energy regulator has approved a £24bn investment to upgrade the UK’s energy infrastructure as a part of its green transition. The Office of Gas and Electricity Markets (Ofgem) move comes as the government renews its push for cleaner energy, despite backlash around the impact on prices. Over £15bn is set to be deployed into the UK’s gas transmissions and distribution systems to ensure a “safe and secure” supply of gas to households and b…
Energy Voice
Energy bills to rise after Ofgem approves £24bn investment
Coverage Details
Bias Distribution
- 76% of the sources are Center
To view factuality data please Upgrade to Premium
