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[SITUATION] · [QUIET] · [BUSINESS]
2 clusters · 6 sources · 20 days · First seen · Last updated
UK electricity grid modernization and investment
Overview
The UK government has introduced plans to modernize the nation’s electricity infrastructure through the creation of Great British Grid (GB Grid). Operating as a branch of Great British Energy, this publicly owned entity is intended to compete with private sector network operators to accelerate construction and reduce consumer energy costs. To mitigate connection delays that have lasted up to ten years, reforms will allow developers to build their own connections in specific circumstances.
Complementing these structural changes, the Electricity Networks Sector Growth Plan—a joint initiative involving the government, Ofgem, and industry associations—proposes an investment of £181bn in electricity networks by 2035. This strategy aims to unlock £58bn for the UK economy and support over 210,000 jobs. Specific regional projects, such as a proposed transmission route in Mid Wales, are expected to provide significant connection capacity for renewable energy while generating local economic benefits.
Entities
Ofgem · United Kingdom · BEAMA · Department for Energy Security and Net Zero · Energy Networks Association
Timeline
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[BUSINESS] 2 sourcesUK electricity grid investment plan targets economic growth
A new UK electricity grid growth plan aims to leverage £181bn in investment to unlock £58bn for the economy and 210,000 jobs, with specific proposals for Wales to secure £1.3bn in local benefits.
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[BUSINESS] 4 sourcesGreat British Grid announced to compete in UK electricity market
The UK is launching Great British Grid, a state-owned company to compete with private firms for electricity infrastructure projects to speed up connections and lower consumer costs.
Sources
electricalcontractingnews.com · formosadeportiva.com.ar · gbnews.com · pv-magazine.com · the-european.eu · theenergyst.com