Ofgem Announces £46m of Funding for Eight Innovation Projects to Improve Britain’s Energy Networks

Posted 24 November 2014 by Energy Networks Association in Funding, Smart Consumers, Smarter Networks

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Ofgem has confirmed funding of £46.4 million for eight projects as part of its cutting-edge innovation competitions for the network companies that deliver energy to homes and businesses.

Ofgem 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.

Ten projects submitted bids and now eight of these will share £46.4 million. Two of the submitted projects failed to demonstrate good value for consumers and didn’t receive funding.