The National Grid is promising an unprecedented level of investment of up to £35 billion over the five years to March 2031 in its business plan released today
There will be baseline investment of over £11 billion to maintain and upgrade our existing networks, alongside construction works for the first three of the Accelerated Strategic Transmission Investment (ASTI) projects where project assessments have been approved
There will be a pipeline investment of around £24 billion, which includes around £15 billion to increase network capacity, most of which relates to the 14 further confirmed ASTI projects.
Pipeline investment also includes additional potential projects that may be triggered by the UK government’s evolving priorities.
Included in the plans are an upgrade of around 3500km of existing overhead lines, nearly doubling the amount of power that can be transfered around the country
Plans will also see the connection of 35GW of new generation and storage, and 19GVA of large demand customers such as data centres and gigafactories, as well as creating a further 26GW of future connection options
Commenting on the final Business Plan, John Pettigrew, CEO of National Grid plc, said: “This plan represents the most significant step forward in the electricity network that we’ve seen in a generation. Through it we will nearly double the amount of energy that can be transported around the country, support the electrification of the industries of today and tomorrow; create new jobs; and support inward investment for the UK.
“It is an ambitious plan, set to future proof the network with strategic capacity and flexibility for the longer term. We’ve laid the foundations for its delivery through the steps we’ve already taken to progress ASTI projects, secure the supply chain, and fund the wider Group. We have done this whilst keeping a relentless focus on consumer bills and affordability.
“It is now critical that Ofgem plays its part in developing an investable framework that will allow us to deliver at the unprecedented scale and pace that is needed to meet the UK’s ambitious climate goals.”
We look forward to engaging further with all our stakeholders, ahead of draft determinations from Ofgem in summer 2025, and final determinations in late 2025.
