The government’s energy security strategy includes a target for renewable generation to accelerate a shift away from fossil fuels to promote energy security and meet net-zero targets. Ofgem is consulting on how they can support and accelerate the delivery of strategic electricity transmission network upgrades that supports the government’s ambitions for renewable energy by 2030.
The government are planning to connect to 50GW of offshore wind capacity by 2030 which increases from the previous year of 40GW target
Ofgem plans to streamline the current approval process for large electricity transmission projects as well as a measure to protect consumers against any risks that changing the process could bring. To do this Ofgem asked the Electricity System Operator (ESO) to identify network upgrades that would be needed to support governments targets. They found that 26 high-value projects would be needed, 16 of which are expected to be delivered by 2030 and 10 of which would need further acceleration to be delivered by 2030.
Ofgem is going to determine the appropriate level of regulatory funding needed and decide the potential options for change and benefits associated with them.
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