UK Network Companies' Innovation Projects Awarded GBP57.6 Million
November 30 2020 - 6:45AM
Dow Jones News
By Jaime Llinares Taboada
U.K. regulator Ofgem said Monday that it has awarded five
gas-and-power network innovation projects with 57.6 million pounds
($76.7 million).
The price-winners include two projects by National Grid PLC to
test the introduction of hydrogen in the company's gas transmission
network, and to upgrade electricity-transmission towers to carry
more power and avoid the construction of new lines. The hydrogen
test facility received GBP9.1 million and the project to increase
line voltage was awarded GBP8.1 million.
Scotland Gas Networks, UK Power Networks and Electricity North
West are the other companies that were also awarded.
"[The projects] will play a vital role as part of [the U.K.]
government's ambitions for climate action and a green economic
recovery, supporting jobs, growth and decarbonization across the
whole country," David Smith, chief executive of the Energy Networks
Association, said.
Ofgem said it will introduce further innovation funding as part
of the RIIO-2 price control framework, which will run from 2021
through to 2026. A final decision on RIIO-2 is expected in
December.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
November 30, 2020 06:30 ET (11:30 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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