Billions need to be put into the electricity grid to make it able to move renewable power from one part of the country to another.
The biggest electricity grid investment in British history has been approved, paving the way for an electricity superhighway, the energy regulator announced. The £3.4bn project will transport energy from Scotland to Yorkshire, helping support offshore wind development and powering two million homes and businesses for an hour, regulator Ofgem said. Money blog: Heinz urged to bring back classic snack It will comprise 436 kilometres of undersea cable and will cost £4.
The superhighway is just the first of 26 'critical' energy projects in Ofgem's fast-track funding process for offshore wind. Under expedited funding plans Ofgem said it can sign off on necessary grid investments by two years more quickly than other infrastructure proposals.
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