On Monday 6 February, Energy Networks Association (ENA) published its submission to the 2023 Spring Budget. This acknowledges that while the price control regime used for regulating energy network infrastructure is considered world-leading in terms of securing investment, there now needs to be an additional focus on unlocking private investment through energy network companies to build and transform energy network capacity.
As such, it proposes legislative and regulatory changes in six keys areas to help unlock investment in network energy companies to ensure that GB’s energy network infrastructure continues to support the economy as it decarbonises. This includes regulatory reform to unlock strategic investment in energy network infrastructure; accelerating investment in hydrogen network infrastructure; reforming the land rights and consenting process for energy network infrastructure; growing new smart energy markets to maximise energy network infrastructure capacity; confirming future innovation funding for energy network infrastructure; and developing a policy strategy for seasonal energy storage.
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