![\"Electricity](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/07\/1000.jpg\")
Ofgem approved \u00a38.9bn investment in Great Britain\u2019s high-voltage electricity network \u2013 the biggest expansion of the grid since the 1960s. Photograph: Andrew Milligan\/PA <\/p>\n Ofgem approved \u00a38.9bn investment in Great Britain\u2019s high-voltage electricity network \u2013 the biggest expansion of the grid since the 1960s. Photograph: Andrew Milligan\/PA <\/p>\n
Energy companies have been given the green light to spend nearly \u00a324bn on Great Britain\u2019s electricity grid, in a move that will further increase household bills.<\/p>\n
In its draft verdict on price controls for energy network companies, the energy watchdog, Ofgem, approved more than \u00a315bn to be spent on gas transmission and distribution networks in the five years to 2031.<\/p>\n
A further \u00a38.9bn will be invested in the nation\u2019s high-voltage electricity network \u2013 the biggest expansion of the grid since the 1960s \u2013 with a further \u00a31.3bn earmarked on top of that.<\/p>\n
The funding will allow 80 big energy infrastructure projects to be completed by 2030 and comes amid a push by the government to boost the UK\u2019s renewables sector to help improve energy security.<\/p>\n
However, to cover the cost of the investment, households\u2019 bills will rise by \u00a3104 by 2031 \u2013 \u00a330 for gas networks and \u00a374 for the electricity grid. This means an extra \u00a324 a year on bills, which remain higher than before the energy crisis<\/a>, which began to escalate in 2021.<\/p>\n The regulator added that bills would be even higher \u2013 about \u00a330 more \u2013 without the investment, because the funding will allow the UK to make \u201cbetter use of our clean renewable energy so we are not having to pay for expensive gas plants to serve demand\u201d.<\/p>\n Labour has faced questions<\/a> over the cost of its plan to switch to a clean power system by 2030, which it has said will ultimately lead to lower bills.<\/p>\n Jonathan Brearley, the Ofgem chief executive, said major investment in the energy networks was vital to \u201censure the system has greater resilience against shocks from volatile gas prices we don\u2019t control\u201d.<\/p>\n He added: \u201cDoing nothing is not an option and will cost consumers more \u2013 this is critical national infrastructure. The sooner we build the network we need and invest to strengthen our resilience, the lower the cost for bill payers will be in the future.\u201d<\/p>\n On Tuesday, Ofgem\u2019s quarterly price cap took effect<\/a>, reducing a typical annual dual-fuel bill by 7% to \u00a31,720.<\/p>\n Brearley insisted the regulator had built in cost controls and negotiated a fair deal for investors and consumers. \u201cWe won\u2019t hesitate to intervene if network companies don\u2019t deliver on time and on budget,\u201d he said.<\/p>\n The energy regulator\u2019s draft verdict included a plan to increase the returns that investors can get on equity put into grid companies<\/a>. A final decision will be published by the end of the year.<\/p>\n