‘Unprecedented’ £35 billion investment plan for UK electricity grid

The Government’s Net Zero goals have received a boost after National Grid recently committed to ‘nearly double’ the transmission capacity of the UK’s electricity grid.

For anyone energy investment planning in Cheshire, the British company announced ambitious plans to upgrade the electricity grid with a £35 billion injection.

The plan is to provide new construction projects to expand electricity transmission capacity. The Government is committed to eliminate fossil fuels and decarbonise by 2030, and has already taken measures to reach those targets, including the launch of the National Energy System Operator, as well as taking strategic electricity decisions to strengthen the UK’s energy security.

The CEO of National Grid, John Pettigrew, said that the upgrade is the most ‘significant’ investment in a generation and will nearly double the amount of electricity that can be transported nationwide. More specifically, it means a big increase in the amount of transmission infrastructure such as cables, pylons and substations that will need to be constructed over the next five years.

National Grid was privatised in 1990 and is responsible for transporting electricity in England and Wales. The Government has recently launched a state-owned green-energy company called Great British Energy to encourage clean energy investment in renewables like solar, wind, tidal and nuclear power.

Analysts have said that there is no doubt the network does require improving as more homes are constructed and AI (artificial intelligence) data centres place ever bigger demands on electricity supplies.

The proposals are still, however, subject to approval by electricity industry regulator Ofgem, tasked with balancing the need for improved infrastructure with protecting consumers from more expensive bills.

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