Ofgem has announced funding for nine innovation projects as part of its innovation competition to deliver smarter energy network for consumers.
£62.8 million will be provided provided under Ofgem’s Network Innovation Competition (NIC), which encourages energy network companies to innovate in order to to reduce costs for consumers, and lowering carbon. Additional external funding will see over £100 million being invested.
Maxine Frerk, senior partner for distribution, said: “Ofgem’s innovation competitions encourage the companies to deliver a smarter network for consumers. Investments in networks have a real potential to connect more renewable generators, and enhance security of supply in a more cost efficient way.
"The nine projects receiving funding today show how new sources and uses of gas together with smarter grids can benefit consumers by making the energy system more secure and cost effective. As with all the projects we have funded we expect to see learning from these projects being shared across industry and are pleased to see many of the earlier projects now being rolled out across companies and delivering real benefits for consumers.”