Most affected customers could receive up to £140 a day for each day they’re off power, Ofgem confirmed

Funding bids will be assessed on value for money, short term grid capacity utilisation and how quickly the infrastructure and solutions can be completed, in support of the UK’s 2050 net zero goal

The National Audit Office found households across Britain have paid at least £800m more because of weaker price controls set by the regulator

The project is a partnership between the Scottish Government and network companies including SP Energy Networks and SSEN

They recover their allowed revenues from charges to suppliers, who in turn pass these costs to customers through their energy bills

National Grid is ‘disappointed’ with the proposals and the Energy Networks Association says they will have ‘damaging impacts’

It is for the next price controls set by Ofgem on how much the firms can charge for running the gas and electricity transmission and distribution networks

The decision follows Ofgem’s consultation on the requests in August

The regulator has set out its initial views and said final decisions will be made in September

It is expected to deliver savings worth more than £5bn for consumers