National Grid ESO sets out network update plan: comment

Commenting on the news that the National Grid Electricity System Operator (ESO) has published an investment plan for a decarbonised future energy system [1], Jess Ralston, Energy Analyst at the Energy and Climate Intelligence Unit (ECIU) said: “The UK’s gas bill has topped £100bn since the price started spiking more than two years ago with tax and billpayers alike having to fork out to cover it [2]. That’s £75bn more than normal and that’s because the UK simply hasn’t invested enough in measures like insulating homes and upgrading the power grid that would have made us less dependent on international gas markets.

“Oil and gas prices are volatile and that won’t change. The Office for Budget Responsibility has modelled a scenario in which energy prices rise again, by 75% in 2025 [3]. By reinforcing the grid, we can use more British energy from renewables which will give the UK much greater energy independence as the output of the North Sea inevitably declines.”

ENDS

Notes to editors:

1. ESO: Beyond 2030: A national blueprint for a decarbonised electricity system in Great Britain is published on 18 March.
2. Russia war anniversary – UK gas bill has now topped £100bn during gas crisis: https://eciu.net/media/press-releases/2024/russia-war-anniversary-uk-gas-bill-has-now-topped-100bn-during-gas-crisis
3. OBR: https://obr.uk/docs/dlm_uploads/E03057758_OBR_EFO-March-2024_Web-AccessibleFinal.pdf

For more information or for interview requests:

George Smeeton, Head of Communications, ECIU, Tel: +44 (0)7894 571 153, email: george.smeeton@eciu.net