Posts tagged £22 billion
Around 7 000 gas engineers, qualified electricians and plumbing professionals could benefit from the £22 billion investment plan announced by Britain’s energy regulator.
Ofgem (the Office of Gas and Electricity Markets) has unveiled an ambitious plan to upgrade country’s gas and high voltage electricity networks, ensuring they remain among the most reliable and secure in the world.
Major projects such as new sub-sea electricity cables, linking England, Wales and Scotland, will be also funded as part of the package to renew Britain’s energy networks, currently operated by the National Grid.
The announcement was revealed within minutes after the government’s confirmation for a £9 billion boost investment programme to improve the nation’s railways. Both announcements today represent a total investment of £31 billion which will provide significant employment opportunities for trade qualified professionals.
Ofgem has estimated that £7 billion from the announced investment would help improve low pressure gas networks which deliver gas to homes and businesses across Britain.
In addition, these proposals are expected to enable gas distribution companies to connect around 80, 000 fuel poor households to the gas network.
Ofgem Chairman, Lord Mogg said: “Britain faces an unprecedented need to invest to replace ageing infrastructure, meet environmental targets and deliver secure supplies.
“This needs to be carried out at a time of global financial uncertainty, which makes attracting investment difficult but possible.”
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