Ofgem confirms local electricity networks price control for 2023 to 2028 in UK

Ofgem today confirmed a five-year investment package for the electricity distribution network companies to help deliver cheaper, cleaner, more reliable local grids at no extra cost to consumers.

A key requirement of the plan will be for networks to focus the investment on supporting the move away from a high dependence on imported fossil fuels, towards using more homegrown, cleaner, cheaper, and secure sources of energy.

The potential of renewable energy sources such as wind, solar, and wave power require changes in the way energy is used and stored to gain their benefits and the price control set out by Ofgem today, will allow for the scale of investment required without adding to customers’ bills.

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