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David Smith, CEO of the ENA said: ‘Achieving net zero emissions requires sustained investment, innovation and a supportive and forward-looking regulatory regime’
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The funding aims to help establish a ‘stronger, greener and fairer GB energy system’ that will be able to cope with changes such as scaled-up EV adoption and electric boiler use
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The regulator emphasises the need for the price control to support decarbonisation
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It is part of regulator Ofwat’s proposals to rebuild public trust
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It follows Western Power Distribution’s decision to voluntarily return £77 million after the government cancelled its rail electrification schemes
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