The North West’s power network operator has developed an incremental £200m investment plan to support the region’s continued clean growth through expansion of critical infrastructure.
Electricity North West is two years into a record £2b five-year investment programme, and its latest plan sets out the need for an additional £200m investment over the next three years, driven by new customer demand.
Electricity North West submitted plans to energy regulator Ofgem, with strong support from more than 20 regional stakeholders, including regional MPs, councils and Greater Manchester Mayor Andy Burnham, to increase overall investment in the region’s grid to meet growing power demand.
The funding, if approved by Ofgem, would boost network capacity and support new businesses, clean power generation and storage, the electrification of public transport, and the deployment of electric vehicle fast chargers.
The investment will also contribute to the Government’s target of achieving clean power by 2030 and help deliver new jobs across the North West whilst allowing people to develop the necessary skills to sustain economic growth and build a green economy.
Ian Smyth, Electricity North West’s chief executive officer, said: “We’re working with Government, industry and Ofgem to ensure the electricity grid meets the needs of our customers and stakeholders and ambition of the region.
“We have a key role to play in enabling growth and net zero in the North West. The grid cannot be an impediment, and investment needs to keep pace with ambition.
“Our track record of innovation means we can deliver the network to support our growing region in the most efficient and targeted way. This essential investment will increase capacity where and when it’s needed to support clean economic growth.”
To shape the plan, Electricity North West worked closely with local authorities and businesses to understand the current and near-term capacity needs of the region.
“Both Government and Ofgem have said that they want to support growth and delivery of net zero at pace. This important funding for the North West delivers those objectives,” added Smyth.
“The clean power target of 2030 is tough but achievable. Investing now will reduce the impact on customer bills in the future. We’ll continue to work with our local stakeholders and with the right funding in place, we can play our part and make it happen.”
Ofgem is expected to make a decision in September.
