Responding to Ofgem’s RIIO3 final determination on grid investment, Energy UK’s chief executive Dhara Vyas said:
“Increasing investment in the infrastructure that transports energy across the country is vital to ensuring our networks remain safe, secure and reliable and are equipped to meet the demands of our energy system over the coming decades.
“That this will be the biggest expansion of the electricity grid since the 1960s underlines the need for a programme of modernisation but with increased demand from the electrification of our homes, businesses and transport, as well as new developments like the anticipated wave of data centres, it’s essential that we also increase its capacity.
“Doing so means we can benefit from the full potential of the UK’s ever-increasing clean energy resources, strengthening our energy independence and paving the way for stable and predictable bills in the next decade and beyond. It will also play a crucial role in boosting economic growth when new developments such as factories, housing and other projects are able to connect to the grid far quicker than at present.
“While we must make this investment in the country’s future, the impact on energy bills for both domestic and business customers also needs to be considered. Last week’s Budget intervention was welcome recognition of the need to ease the burden on these customers and the Government needs to continue looking at funding essential future investment in the fairest way possible and providing greater certainty and visibility on future costs.”