National Grid has announced plans to invest £35 billion over the next five years to nearly double the capacity of its electricity transmission network across the UK.
The grid operator revealed on Wednesday that its business plan, covering the period from April 2026 to March 2031, marks the “most significant step forward in the UK’s transmission network for a generation.”
John Pettigrew, Chief Executive of National Grid, explained, “Through this investment, we will nearly double the amount of energy that can be transported around the country, support the electrification of industries for today and the future, create new jobs, and attract inward investment into the UK.”
The £35 billion investment will support the creation of 55,000 new jobs by 2030, reduce emissions by 50%, and help consumers avoid around £12 billion in costs over the period. This funding will go towards significant upgrades to the existing grid network to boost capacity and the construction of 17 new renewable energy projects under Ofgem’s Accelerated Strategic Investment (ASTI) scheme. National Grid currently operates a network of 22,000 pylons, 7,000 km of overhead lines, and 300 substations in the UK.
Pettigrew added, “It is an ambitious plan that will future-proof the network, providing strategic capacity and flexibility for the long term.”
He also highlighted that National Grid had already laid the groundwork for the plan through early steps in progressing ASTI projects, securing the supply chain, and funding the wider group—all while keeping a strong focus on consumer bills and affordability.
This announcement follows National Grid’s completion of a £7 billion equity raise earlier this year, which will help fund a broader £60 billion five-year investment plan across the group through to March 2029.
The company reported a more than 25% increase in profits in its half-year results in November.
Related Topics:
- Is Biogas a Renewable Source of Energy？
- Why Tidal Energy Is Renewable?
- Why Is Geothermal Energy Considered a Renewable Resource Apex?