News

Iberdrola, through its UK subsidiary ScottishPower Energy Networks, has set out a £10.6bn (€12.8bn) plan to help rewire Britain and deliver the critical electricity infrastructure needed for decades to come as it submits its RIIO-T3 Business Plan to Ofgem.

The Business Plan, How we get there, covers the next price control period from 2026-31 and will deliver new and upgraded transmission infrastructure in central and southern Scotland, including 12 new major transmission substations, 450km of upgraded existing circuits, 87km of upgraded overhead lines and 35km of underground cables – all to help increase capacity on the GB transmission grid to meet demand.

The Plan also outlines a programme of investment to further increase network resilience, maintain existing assets and help connect up to 19.000MW of new clean, green power to the grid, as well as contributing to reduced constraint costs, leading to a £167 (€202) saving per household every year by 2030.

SP Energy Networks plans to double its transmission workforce with around 1,400 new directly employed jobs and supporting another 11,000 more jobs across the UK. This is a step change in transmission investment, over three times more than the £3.4bn (€4.1bn) of the RIIO-T2 plan.

Independent research by the Centre for Energy Policy at the University of Strathclyde has found that the Business Plan could contribute sustained economic benefit of £2bn (€2.4bn) each year to UK society.

You can read the full article at the ScottishPower Press Room.