The two FTSE-listed Scottish energy utilities have been awarded £5.5 million to develop infrastructure projects to improve the National Grid.
Perth-based Scottish & Southern Energy and Glasgow-based Scottish Power are among a group of eight network companies to benefit from total funding of £46 million awarded by OFGEM – the UK regulator – to deliver energy to homes and businesses.
OFGEM – the UK regulator – runs three innovation competitions to help Britain’s energy networks become smarter and more cost-efficient.
The Low Carbon Networks (LCN) Fund, the Gas Network Innovation Competition (NIC) and Electricity NIC help the electricity and gas networks accelerate developing a low carbon energy sector and deliver other environmental benefits and cost savings to consumers.
Maxine Frerk, OFGEM senior partner for distribution, said: “Energy networks are facing significant challenges in moving to a low carbon future and ensuring costs are kept low for consumers.
“These ground-breaking innovation competitions encourage companies to prepare for the future. The eight projects receiving funding have successfully demonstrated that they have real potential to deliver environmental and cost saving benefits.”
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