Ensuring smart technology delivers a Return-on-Innovation for utility providers
Tuesday, 20 December 2016
On December 1, UK government electricity and gas regulator Ofgem announced that they would be cutting £20m from the funding available to energy companies in the UK to create and distribute innovations across their networks. The funding pool available to companies for innovation advancements will now be £70m, rather than the previous £90m available.
Ofgem has made the announcement based on an independently commissioned review into the Low Carbon Networks Fund (LCNF). In it, the LCNF found that Distribution Network Operators (DNOs) of the National Grid have made a myriad of important innovations using recent annual rounds of funding, but that there is room for improvement in regards to cost-effectiveness.
- Published in Utilities