The UK energy regulator, Ofgem is planning a £22bn upgrade of the country’s ageing gas and electricity networks, which is set to enable the connection of more renewable energy projects.
Despite the proposals (part of an overall spend of £200bn) representing the UK’s biggest investment in energy networks for decades, prime operator National Grid has criticised the plan, saying it doesn’t go far enough.
The group has asked Ofgem to allow it to spend £31bn on renewing the UK’s electricity and gas transmission and distribution networks over the next eight years, and hopes to gain some ground in negotiations before the final determinations are published in December, reports FT.
National Grid said: "We believe that these initial proposals will not appropriately incentivise the essential investments necessary to provide safe, reliable networks for the UK consumer and avoid delays to the achievement of the UK's environmental targets."
The £22bn programme comprises a £15bn investment in the upgrade and renewal of the high voltage electricity network in England and Wales, as well as high pressure gas networks in the UK, which transfer gas from offshore gasfields to the main network.
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