Britain’s electricity network is slated for a significant overhaul, with a new plan revealing the need for nearly £60 billion in upgrades to achieve government decarbonisation goals by 2035, as announced by National Grid ESO.
This extensive investment includes 4,000 miles of undersea cables and 1,000 miles of power lines, adding £20 to £30 annually to customer bills.
The estimated budget of £58 billion covers work between 2030 and 2035, supplementing the previous £54 billion projection for upgrades until 2030.
Lawrence Slade, Chief Executive of the Energy Networks Association, emphasised the significance of National Grid ESO’s investment plan, as outlined in the report ‘Beyond 2030’, stating that upgrading the grid is crucial to supporting greater electrification, low carbon technologies and enhancing energy security.
Lawrence Slade said: “To reach our net zero goals we need to maximise the use of existing power infrastructure, operate this infrastructure flexibly and innovatively and build new infrastructure.
“Alongside this plan, electricity networks are spending and investing around £30 billion over this price control period and undertaking the biggest programme of reforms in the history of the grid.”
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