RenewableUK’s CEO Tara Singh comments on the publication of the Electricity Networks Sector Growth Plan by the Energy Networks Association and BEAMA, which shows that by 2035, electricity networks are expected to support more than 210,000 jobs, contribute £58 billion in economic value and enable £181 billion of investment in Great Britain's electricity networks.
'This plan shows the vast scale of the economic opportunity that the UK has to support hundreds of thousands of high-quality well-paid jobs and attract tens of billions in investment in essential new grid infrastructure by 2035. A key part of this will be the expansion of local supply chain companies providing the services and specialist components needed, large and small, to build a grid that’s fit for purpose in the 21st century.
'We’ve supported the creation of this plan by providing insights from our Industrial Growth Plan for offshore wind on the common opportunities for both sectors. When we add up the total number of jobs and supply chain companies needed, we see a great opportunity to retain and expand manufacturing in the UK.
'Every part of the UK stands to gain from this. For example, new analysis by BiGGAR Economics for RenewableUK Cymru shows that a proposed electricity grid transmission route through Wales could unlock an additional £1.3 billion of spending with Welsh businesses and support 540 long-term jobs compared with an alternative route which would bypass Wales.
'Whilst building new grid will enable us to move low-cost homegrown clean power around the country more efficiently, the report is clear that 80% of grid upgrades are focused on improving the network as it stands. The UK needs to be able to meet its growing need for more electricity, to power EVs, heat pumps and data centres and, critically, new grid development will also bring down bills. The National Audit Office says that if Britain can accelerate its network rollout, a typical household could be £30 a year better off than continuing at today’s slow pace'.
Source: RenewableUK
