UK Regulator Approves £40B of Grid Investment, But Is It Enough?

By [email protected] The U.K. regulator Ofgem has approved a revised pricing framework for British transmission networks, one meant to avoid sticking consumers with excessive bills while also allowing for sufficient investment to allow the country to achieve its net-zero targets.

On Tuesday, Ofgem revealed a total investment package of at least £40 billion ($53.3 billion) for 2021-2026, with £30 billion of upfront funding available. Additional funding will be released for low-carbon projects presented when the network companies make the business case for it. Those companies have flagged £10 billion worth of such projects so far.

The new investment package is part of Ofgem’s

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