Ofgem plans to invest in gas and electricity infrastructure

Ofgem has announced funding of up to £24.2bn to deliver new and upgraded infrastructure for Britain’s gas and electricity networks.

Of this, £4.5bn will only be made available over the course of the new, longer price control period of eight years (1 April 2013–21) if companies are able to justify this expenditure.

The cost of running and maintaining Britain’s energy networks up to 2021 brings the total package to £38.2bn.

The proposals earmark up to £15.5bn to upgrade the high-voltage electricity transmission network in England and Wales and high-pressure gas transmission network across Britain — both operated by the National Grid.