UK energy regulator to fast track £4bn of renewables investment with new rules

UK renewable energy projects will be connected to the electricity grid more quickly as a result of new rules from the country’s energy regulator Ofgem granting early access to almost £4bn of investment for transmission equipment and services.

Its new  aims to unblock supply chains by allowing UK electricity transmission owners (TOs) to buy essential equipment – such as switchgear, cables and steel – years in advance of when it is needed.

This streamlined process seeks to ensure green-lit projects are ready to break ground as soon as planning approval is granted, allowing TOs to avoid delays, control costs and attract international investment in the drive to Net Zero. It promises to end the current log-jam of projects that wait years for grid connectivity.

Akshay Kaul, Director General, Infrastructure, for Ofgem said, “Building a modern, clean and secure energy system is the key to ending our reliance on international gas markets responsible for volatile prices, so we must do everything we can to clear the way.”