Britain, 70 billion pounds for the electricity grid - Investments aimed at reducing energy costs. 100,000 jobs are created
Energy companies have pledged to spend almost £70 billion over five years to help reconnect Britain's electricity infrastructure.
The companies that own the high-voltage power system, National Grid, Scottish and Southern Energy and ScottishPower, have submitted spending plans totaling around £68 billion to industry regulator Ofgem for the period from 2026 to 2031, which could create around 100,000 jobs.
National Grid set out plans to spend up to £35bn over five years, while the FTSE 100 energy company has also proposed an investment pipeline of around £24bn. This investment includes around £15bn to increase network capacity and a provision of £9bn for any potential projects the government may need to meet its 2030 energy targets.
Scottish and Southern Energy made the plans public last week, unveiling £22.3bn of investment in network infrastructure. While ScottishPower's plans include spending £10.6bn on building 12 new main transmission substations, upgrading 450km of existing power circuits, 87km of overhead lines and 35km of underground cables.
The company, which is responsible for transmitting electricity in central and southern Scotland, plans to make the grid more resilient and help connect up to 19 GW of green energy projects to the grid, or enough to power 20 million households in the United Kingdom.
This plan aims to reduce payments to renewable energy operators to shut down their plants when green electricity risks overloading the power grid. ScottishPower estimates this could save households up to £167 on their energy bills by 2030.
Poll
Kosovo, auction for wind energy - Projects with a capacity of up to 150 MW are targeted
The Ministry of Economy of Kosovo started the first phase of two planned auctions for wind energy. The target capacity for the first round is 50 MW to 100......
New rules for airport areas - Priority, security. Administrative measures for offenders
The Council of Ministers defined the rules for the development of airport areas, regarding the impacts they may have on operational safety, the proposed......
Montenegro, 1.4 billion euros for infrastructure - The plan includes investments for two hydropower plants, the Adriatic-Ionian gas pipeline
The Government of Montenegro has approved a list of priority infrastructure projects in the energy sector. This list is made to meet the final criteria of......
Prices in Albania also increase according to Eurostat/ November inflation is estimated at 2.4%, 1 point below the EU
The Harmonized Index of Consumer Prices, which measures price growth according to the methodology of the 'European Statistics Agency', in November 2024 is......
Ndërsa bitcoin rritet, markat luksoze po konsiderojnë pranimin e pagesave me kriptomonedha!
Rritja e vlerës së Bitcoin ka tërhequr vëmendjen e markave dhe shitësve të modës së nivelit të lartë, duke nxitur interes të mëtejshëm për ofrimin e......
Europe's economy faces a 'bumpy' ride in 2025. What are the 5 main areas of focus?
Between political turmoil, some weak economic data and warnings about its lack of growth potential, Europe had a difficult year. However, amid a bleak......
"The EU must be pragmatic towards Trump" - Meloni emphasizes the need for cooperation to avoid the trade war
Italian Prime Minister Giorgia Meloni said that the European Union must take a pragmatic approach with the incoming Trump administration to prevent a trade......
How is the housing price reference determined? - Demirxhiu: Factors are from average sales. To be indexed annually
A few days ago, the Ministry of Economy, Culture and Innovation published in the Official Gazette, the new average prices for the sale and purchase of......
