SP Energy Networks unveils £3.2bn investment for greener future

The mammoth investment will support the upgrade of critical infrastructure as the UK moves to low carbon technologies

Pathway to COP26 report

SP Energy Networks has today unveiled plans to invest £3.2 billion by 2028 in critical infrastructure upgrade works needed to support the UK’s net zero goals.

The funded projects include more than 800 kilometres of cables and 700 substations.

These are forecast to create more than 1,100 jobs across Scotland, the North West of England and Wales.

The company’s draft RIIO-ED2 Business Plan also includes a £30 million ‘Distribution Net Zero’ fund which will support low carbon project proposals.

Frank Mitchell, Chief Executive Officer of SP Energy Networks, said: “If the UK is to hit its net zero targets, we must deliver one of the largest, fastest upgrades of our critical infrastructure this country has ever seen.

“When the current infrastructure was built, homes used gas or solid fuel for heating with only twenty appliances running on electricity, compared to more than fifty now.

“Over the next two decades, we expect to see that demand rise significantly, as millions more electric vehicles and heating systems come online.”

If you enjoyed this story you can sign up to our weekly email for Energy Live News – and if you’re interested in hearing more about the journey to net zero by 2050, you can also sign up to the future Net Zero newsletter. 

Latest Podcast