UK Power Networks unleashes £4.5bn net zero plan

The country’s biggest electricity distributor has unveiled its ED2 Business Plan

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UK Power Networks has today unveiled a £4.5 billion Business Plan for the period starting from 2023 to 2028.

It is the Draft RIIO-ED2, which is the next price control for Distribution Network Operators.

The draft plan has been created in consultation with more than 20,000 customers, stakeholders, local authorities and communities.

The programme aims to have customers and communities at its heart.

The measures include innovative approaches to boost public on-street charging infrastructure and increase current chargers by 25%.

A total of £67 million worth of benefits will be spent to support vulnerable customers experiencing fuel poverty.

The company will also create a dedicated team that will work with local authorities to develop energy plans towards net zero.

The plan, which has been submitted to industry regulator Ofgem for consideration by December, also includes the network operator’s goal to achieve net zero in its own operations by 2028.

Basil Scarsella, UK Power Networks Chief Executive Officer, said: “The 2020s will be a decade of transformative change in the energy system and in our society, as we decarbonise every aspect of our economy, and a time when net zero becomes real for millions of our customers.

“It will bring major change to the lifestyles of people and communities; from the way we refuel our vehicles to heating our homes and using energy wisely.

“That is why we have undertaken our most extensive ever consultation and engagement exercise, responding to what more than 26,000 people have told us and creating a Business Plan with customers and communities at its heart.”