Ofgem proposes £25bn plan to save consumers money and work towards net zero

The proposals aim to enable the delivery of emissions-free green energy, meet 2050 targets, maintain high levels of grid reliability and generate green growth and employment

Energy regulator Ofgem has announced a new five-year, £25 billion investment programme to transform the UK's energy networks.

The proposals aim to enable the delivery of emissions-free green energy across the country and meet national net zero targets, while also maintaining high levels of service and grid reliability.

It notes the new investment will also help generate green growth and employment and emphasises it aims to keep costs as low as possible for consumers by proposing the lowest-ever rate of return on capital for network companies and encouraging companies to become more efficient with stretching new efficiency goals and by disallowing 'unjustified costs'.

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