Ofgem Proposes £25bn to transform GB energy networks
Ofgem has unveiled proposals for the five-year investment programme of around £25bn to transform Britain's energy networks to deliver emissions-free green energy for GB along with world-class service and reliability. Investment in the networks that transport energy round GB will rise to ensure the delivery of clean energy and to meet Government targets for net-zero emissions. This investment will also help generate “green growth” and employment.
To further support the green recovery, Ofgem has also asked network companies to propose additional ideas on bringing forward investment plans via the current price control period.
The Greater Manchester Combined Authority (GMCA) has set out a bold ambition for Greater Manchester to become net-zero carbon by 2038, aligning it with the objectives of the Paris Agreement. Both Electricity Northwest and Cadent Gas have developed a roadmap for the energy sector. The road map declares that energy consumption across Greater Manchester must fall by 25% in the next 18 years with the aim that efficient heating technologies can become the “norm” as more renewable generation comes online.
London’s Mayor announces £1.5bn package of Infrastructure enhancements
Sadiq Khan has announced plans to work with utility companies to deliver infrastructure upgrades to support the post-COVID-19 recovery. These measures include:
- An upgrade of the gas networks to improve the resilience of supply,
- Reduce water leakage and pollution incidents measurably by 2025,
- Upgrade the water networks serving the City, Docklands and north east London to enhance its resilience,
- And develop plans for a robust electricity network to support the growth in electric vehicles.
- The Mayor is working with companies including SSE, SGN, UKPN, Cadent and Thames Water to achieve this goal.
Government outlines £750m green spending for heavy industry and aviation
The Government has unveiled a £350m funding pot for technologies like carbon capture and storage (CCS) and hydrogen alongside a £400m sustainable aviation fuel (SAF) pledge, to be spent as part of the UK's Covid-19 recovery effort.
Of the pot, £139m will be used to abate emissions from the heavy industry sector. Investments will be made to scale-up the UK’s hydrogen production capacity and to improve related infrastructure, and to bring CCS technologies online at scale.
Efforts will also be made to improve building techniques and the implementation of digital technologies to improve productivity and build quality while reducing emissions and raw materials use.
This is in-line with the government’s commitment to create a legally binding net-zero carbon target for 2050.
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