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Ofgem Obtains GBP28 Billion Investment for Energy Grid Upgrades, Upkeep

MT Newswires·12/04/2025 02:39:18
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02:39 AM EST, 12/04/2025 (MT Newswires) -- The UK's Office of Gas and Electricity Markets, or Ofgem, secured investments worth 28 billion pounds sterling from undisclosed energy network companies. The energy regulator will use 17.8 billion pounds of the commitments for the upkeep of its gas networks, and 10.3 billion pounds for electricity transmission network upgrades, according to a Thursday release. Ofgem added that the upgrades are expected to decrease bills by 2031, as well as boost the reliability, capacity, and safety of the grids and networks.