£300 million investment to improve EV readiness

Ofgem has announced a £300 million investment for over 200 low carbon projects to get Britain ready for more electric transport and heat.

As part of the investment, a further 1,750 charge points will be supported in towns and cities. As drivers make the switch from petrol and diesel to electric, Britain’s cables, substations and other infrastructure need a massive upgrade to support this new demand for electricity.

The investment will be delivered in the next two years and is part of a much bigger plan to ensure Britain has the energy infrastructure it needs to support the move to low carbon transport and heating while maintaining secure supplies.

The projects, spread out over the UK, will see 204 net zero initiatives worth £300 million across England, Scotland and Wales. These shovel-ready, low carbon projects start this year, supporting clean transport and heat, and opening up local electricity grids to take on more low carbon generation.

Research has found that 36 per cent of households that do not intend to get an electric vehicle are put off making the switch over a lack of charging points near their home. An extensive motorway charging network and more charging points in cities and train stations will help address this ‘range anxiety’, so Ofgem is accelerating investment to boost charge point installation.

Jonathan Brearley, chief executive of Ofgem, said: “This £300 million down payment is just the start of building back a greener energy network which will see well over £40 billion of investment in Britain’s energy networks in the next seven years.

“The payment will support the rapid take up of electric vehicles which will be vital if Britain is to hit its climate change targets. Drivers need to be confident that they can charge their car quickly when they need to. We’re paving the way for the installation of 1,800 ultra-rapid charge points, tripling the number of these public charge points. Drivers will have more charging options for longer journeys.

“In the year that Glasgow hosts the COP26 climate summit, the energy networks are rising to the challenge and working with us and partners to accelerate projects that can start now, benefiting consumers, boosting the economy and creating jobs.”