[ad_1]
Gary McDonald Business Editor
24 April, 2023 12:15
NIE Networks las laid out plans to invest more than £3 billion in Northern Ireland’s electricity network over the next decade, creating1,000-plus jobs as a result.
The move is part of the company’s contribution towards the region’s net zero carbon future and to meeting climate change commitments.
But ultimately the customer will make a contribution, with average bills set to rise by at least £10 a year.
NIE Networks, which has more than 910,000 customers, owns the network of lines, poles and substations that takes electricity from power stations to homes and businesses across the north.
Its managing director Derek Hynes said: “A significant step change is needed in the level of investment required during the next 10 years and beyond to facilitate the scale of decarbonisation mandated in the Northern Ireland climate change legislation.
“These are investments that will provide increased network capacity to enable our customers to connect to low carbon technologies such as electric vehicles, solar panels and heat pumps.
“We will also need to invest to provide the network capacity needed to meet government targets for a greater proportion of electricity to consistently and reliably come from renewable sources.”
The company says the investment will not only deliver an electricity network fit to facilitate net zero, but will create greater prosperity by providing training and long-term careers through apprenticeship opportunities.
Mr Hynes added: “We will need to create 1,000 new jobs, including 400 apprenticeships in NIE Networks and up to 500 new jobs in our contractors and support partners, between now and 2030.
“This level of investment will also attract additional inward investment into Northern Ireland, alongside encouraging new businesses to come here and existing businesses to grow.”
Details of the investment are set out in a business plan (https://www.nienetworks.co.uk/rp7-business-plan) which NIE Networks has submitted to the Utility Regulator.
The regulator will assess the plan and publish a draft determination for public consultation in November, and then a final determination and proposals on licence modifications will follow in October 2024.
Mr Hynes said: “Our plan is designed to improve reliability, support the most vulnerable, cut carbon, as well as creating hundreds of jobs and supply chain opportunities across Northern Ireland.
“But it’s important we are transparent with customers, and this investment requires an anticipated increase in network charges of around £10 a year for the average domestic customer. It is critical though that we invest now to avoid higher costs in the future.”
The Centre of Advanced Sustainable Energy (Case) said the region’s targets for dealing with climate change were “ambitious” but could not be met without major investment in energy infrastructure.
“News of NIE Networks’ intended investment in the electricity network is therefore welcome and timely, and in the long-term we would see many benefits being realised from its,” according to Case centre manager Martin Doherty.
[ad_2]
Source link