Investment in the UK’s grid network could unlock £58bn for the UK economy and support more than 210,000 “high-quality jobs” according to the Electricity Networks Sector Growth Plan published today (20 October)
Developed jointly by the Energy Networks Association (ENA) and BEAMA with government, Ofgem and industry, the plan sets out how £181bn of investment in the UK’s electricity networks by 2035 can be turned into jobs, manufacturing and lasting economic value.
A new growth partnership, overseen by an independent chair, has been established to drive delivery through action plans on supply chains and skills.
David Hall, President UK & Ireland at global energy technology company, Schneider Electric, which contributed to the plan, says, “You cannot run tomorrow’s economy on yesterday’s wires. Electricity demand is expected to double by 2050, yet network constraints are already slowing investment and growth.
“The Electricity Networks Sector Growth Plan, developed jointly by supply chain companies, network operators, the Government, and Ofgem, provides a clear pathway to modernise the grid and unlock economic opportunity across the UK.”
He further stresses that delivery depends on supply chain confidence. “With long-term visibility of demand, British factories, including Schneider Electric’s Leeds and Scarborough facilities, can invest in the manufacturing capacity and skills needed to build a more resilient grid, supporting innovation and high-quality jobs across the UK,” he adds.
“We need to build more capacity and make better use of the grid we already have. Digital twins can help target investment, while better network data and software-controlled automation can support more flexible, resilient operations.”
Yselkla Farmer, Chief Executive of BEAMA, adds, “Upgrading Britain’s grid is one of the biggest infrastructure programmes of our time. The Sector Growth Plan sets out how we will deliver it, giving manufacturers and service providers confidence to invest in people and places.”
Hall concludes, “Grid capacity is economic capacity. By investing in our networks today, Britain can build a stronger economy and secure the benefits of electrification for decades to come.”
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