Network operators set to invest over £120bn by 2050

Electricity network operators are set to invest over £120bn by 2050 to help the UK meet its energy needs, according to industry leaders.

The Energy Networks Association report said the investment will also enable the of adoption of low carbon technologies that will empower consumers to reduce fossil fuel use and cut their total energy demand by 47% over the next 25 years.

The transmission companies’ investment plans for 2026-31 alone total almost £70bn, up from £31bn for the previous five year period.

Lawrence Slade, Chief Executive, Energy Networks Association said:“Energy infrastructure is evolving quickly to deal with the demands being placed on it, and it’s good to remember the titanic effort that is going into building a grid that can ensure UK homes and businesses can get the affordable, secure and clean home grown power they need.”