Ofgem greenlights £28bn to strengthen UK energy networks

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Energy regulator Ofgem has authorised a £28 billion funding package to reinforce Britain’s gas and electricity infrastructure.

According to Ofgem, the investment will help modernise infrastructure and protect consumers from future price shocks, while ultimately saving people money on bills in the long run. Of the total, £17.8 billion will be used to maintain gas networks, while £10.3 billion will go towards strengthening electricity transmission systems. The regulator expects the commitment to raise to around £90 billion by 2031 as part of a wider programme to expand capacity and support the transition to cleaner energy sources.

Read more in The Engineer