Ofgem announces major gas and electric investment
22 January 2010 17:11:34
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| Watchdog ready to fund new renewable energy products. |
The gas and electric industry watchdog is hoping to see work on the projects - which include new wind farms in the Shetland Isles and East Anglia - before the end of the 2010-11 financial year.
According to reports, Scotland will receive almost half of the funding to assist the country in its attempts to prepare for a major rise in renewable energy capacity.
"The funding proposals will enable vital new generation, much of it renewable, to be connected to the grid," said Stuart Cook, acting senior partner for transmission and governance at Ofgem.
"[This investment represents] a significant step towards facilitating the government's 2020 carbon emissions reduction target."
Meanwhile, Ofgem is also hoping to get positive feedback from National Grid Electricity Transmission, Scottish Power Transmission and Scottish Hydro-Electric Transmission in order to provide an extra £764m in funding.
Britons are increasingly worrying about the size of their gas and electricity bills in light of the recent cold snap, a new report by consumer group Which? revealed last week.
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