SSE Networks bows to stakeholders, considers net zero investment of £ 4bn

Scottish and Southern Electricity Networks (SSEN) could pledge more than £ 4 billion in the push to net zero, the energy giant said in a draft business plan today.

The draft plan for 2023 to 2028, which was led by stakeholders according to SSEN, set targets such as reducing unplanned power outages by 20% and connecting 1.3 million additional charging points for vehicles. electric.

SSEN added that it plans to reduce its carbon footprint by 35%, align with the Paris Agreement and create a net zero foundation of £ 1 billion.

“The need to transform our energy system to face the climate emergency has never been clearer and it is essential that local power grids are a catalyst rather than a constraint as we work towards a shared net zero future Chris Burchell, General Manager of SSEN Distribution. , mentionned.

Local electricity grids will be the key to net zero emissions, SSEN said, as the UK shifts to heating and electric transport.

Switch to electric

The energy giant appears poised to capitalize on the expected increase in demand for electricity along the road to net zero, as it said, “the number of owner vehicles is expected to increase from 30,000 today. ‘hui to 5m by 2050 with 2.5m heat pumps installed during the same period. “

SSEN, which operates under the UK and Scottish governments, is bound by net zero targets of 2050 and 2045, respectively.

“The Climate Change Committee has predicted that a shift in low-carbon technologies (LCTs) could nearly triple the demand on power grids by 2050,” the energy giant said in a statement. .

Over the five-year period, £ 400million would be allocated to improve and digitize its systems. Meanwhile, £ 2.2bn will be invested in ‘asset resilience’, half of which will be used to found net zero demand.

“There will inevitably be a degree of uncertainty in the years to come as energy policy and targets continue to accelerate, so it is essential that Ofgem supports us by providing an agile regulatory framework that helps deliver a grid. where customers can switch to electric vehicles and other networks. zero technologies with ease when they choose, ”added Burchell.

“We will continue to work with our clients and stakeholders over the coming months to further refine our proposals and help strengthen our plan to bring communities to zero net.”

Previous Lion climbs into the campers tent. Then...
Next Idaho First Bank Announces Zak Sundsten as Vice President, Director of Commercial Relations

No Comment

Leave a reply

Your email address will not be published.