Last checked at 15 Dec 2022 07:25
15 December 2022
Ofgem's decision on accelerated onshore electricity transmission investment published
Ofgem has today published its decision on accelerated onshore electricity transmission investment, confirming that National Grid Electricity Transmission (NGET) will be responsible for the delivery of 17 major onshore electricity transmission projects.
We welcome the clarity and commitment that this decision gives NGET, and the wider industry, as the next step towards a more affordable, resilient and clean energy system. Whilst this investment is fundamental to the successful delivery of the decarbonisation of our electricity system, it will also bring greater security of supply, as well as improved affordability for customers in the long run.
However, as Ofgem highlights, urgent reform is still required across a number of areas. The planning system needs streamlining to allow for the delivery of this critical national infrastructure in a timely fashion; the setting of allowances needs to enable a programmatic approach; and communities must see clear long-term economic benefit to hosting infrastructure for the UK to achieve its net zero ambition.
We will continue to work alongside Government and Ofgem to progress these critical projects, as we look towards agreeing a regulatory and financial framework that can enable the delivery of this infrastructure in future years.
Enquiries and contacts
Investors and Analyst:
Nick Ashworth +44 (0) 7814 355 590
Angela Broad +44 (0) 7825 351 918
James Flanagan +44 (0) 7970 778 952
Jonathan Clay +44 (0) 7899 928 247
Media:
Molly Neal +44 (0) 7583 102 727
Ben Davis +44 (0) 7971 539 999