New financial mechanisms will be required to speed the energy transition in the UK, according to a report released by utility Scottish Southern Electricity Networks (SSEN).
The report Delivering DSO outlines how the utility is investing over £160 million in the RIIO-ED1 project to support its transition to a smarter, flexible electricity network.
The report comprises seven policy recommendations to ensure the UK’s network infrastructure is prepared for net-zero.
The seven policy recommendations are:
- The introduction of a clear mechanism that supports anticipatory investment to help electricity networks prepare for net-zero.
- The introduction of requirements for new homes to be ‘EV ready’ with appropriate charging infrastructure.
- Mandating the installation of smart EV charging to ensure infrastructure is being efficiently utilised.
- Encourage households to adopt flexibility by providing a financial incentive above market value.
- Improving transparency of anonymised EV-use to support the smooth transition to electrified transport;
- Improving transparency of Low-Carbon Technology uptake to improve investment decisions; and
- Adopting a whole-systems approach, with communities taking a leading role in the journey to net-zero.
Source: Smart Energy International