The UK’s electricity network companies could deliver £1.7 billion of potential savings by 2031.
That’s the verdict from the Energy Networks Association, which has outlined how innovative projects by local electricity Distribution Network Operators (DNOs) could deliver major savings by ensuring networks evolve to new demands in the most cost-efficient way possible.
It says this is essential as the firms move from their traditional role of distributing electricity to playing a more active role in managing local supply and demand as renewables, batteries and electric vehicles are connected to the grid.
The ENA believes a joint roadmap is needed to address challenges and uncertainties facing the industry and how the benefits from these projects will be delivered.
The group also calls for action in areas where the innovation opportunity and priority is high.
This includes areas which will improve network visibility or controllability, ways to improve flexibility as the grid decarbonises and bids to maximise cyber security and data protection.
The Energy Networks Association also stresses network operators must work together to develop common approaches to tackling industry issues and get the best possible value possible.