UK electricity network investment could unlock £58bln
The Electricity Networks Sector Growth Plan says 72p of every £1 invested will directly benefit regions and local communities.
Network operators and their supply chain companies are set to invest up to £200bln over the next 10 years, says analysis from the Energy Networks Association (ENA) and BEAMA – the trade association for energy infrastructure companies.
Their plan highlights several benefits in this investment, claiming it will create a total of 210,000 jobs by 2035.
It also sets out practical measures to provide greater transparency around planned upgrades.
These include enhanced supply chain visibility so manufacturers and SMEs can plan multi-year capacity; a shared local content methodology to enable quantification of UK economic benefits; and a shift towards facilitating long-term procurement and collaboration.
To support its implementation, a growth partnership has been established - supported by ENA and BEAMA - which will include dedicated sub-groups driving the delivery of cross-sector action plans.
The Electricity Networks Sector Growth Plan includes input from the UK Government, Scottish Government, Welsh Government, Ofgem, employers and trade unions.
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