NATIONAL Grid’s plan to deliver net zero by investing £1 billion over the next five years has been heard in the Senedd.

The company is transforming its network across south Wales, boosting energy security and decarbonisation while helping to minimise the impact on bills.

The 2023-28 RIIO-ED2 business plan was outlined to Senedd members, councillors and civil servants at the Turbo charging the road to Net Zero for your community event in Cardiff Bay.

National Grid, the electricity distribution network operator for south Wales, say their plan will benefit communities, businesses and residents across the region.

The Welsh Government has also set ambitious net zero goals requiring investment in upgraded energy infrastructure.

It is hoped these will deliver a cleaner, smarter and more flexible energy network with the capacity to connect low carbon technologies essential for decarbonising Welsh transport and heating.

Between 2023-28, National Grid plans to invest more than £1 billion across the south Wales network to boost energy security and decarbonisation.

The funding will help connect more than 75,500 heat pumps and nearly 68,700 electric vehicle chargers throughout the region, helping to dramatically reduce carbon emissions.

Overall, National Grid is proposing to spend £6 billion across its network, which also covers the Midlands and south-west of England.

Investment in the low voltage local network is essential to meeting the surge in demand for low carbon technologies including heat pumps, solar panels and electric vehicle chargers on the network.

Guests at the Senedd were also able to discuss National Grid’s industry leading apprenticeship, fuel poverty and customer support programmes.

This included the latest round of its Community Matters Fund, which this winter is delivering a record £2.5 million to charitable organisations who are tackling fuel poverty in their communities.

With Ofgem publishing its draft determination earlier in the year, investment in the energy network has been brought into the spotlight.

While National Grid has set out ambitious investment plans, Ofgem’s recent draft determination would cut expenditure in south Wales by more than £184 million.

This could add up to five years to the net zero aspirations of regional stakeholders and result in around 11,000 fewer electric vehicle charger connections and 12,000 fewer pump connections across the National Grid network in south Wales.

National Grid undertook extensive customer and stakeholder engagement in the development of their proposed business plan and continues to believe the balance between investment, innovation and affordability is correct.

The company and stakeholders attending the event are now urging Ofgem to ensure the plans are fully funded in anticipation of the final determination later this month.

Graham Halladay, National Grid Electricity Distribution’s operations director, said: “Our business plan was built in partnership with customers and stakeholders and fully reflects the ambitions of the people we serve.

“Our plan will see us invest billions of pounds across the network, delivering innovative solutions that connect customers to clean, fair and affordable sources of energy – all while keeping our portion of bills broadly flat in real terms.

“It was great to see so many Senedd members and interested stakeholders from south Wales and we were grateful for the opportunity to discuss their energy priorities and our role in making a net zero Wales a reality.

“We will continue to work with Ofgem to champion a price control that meets the needs of our customers; sustainability, connectability, vulnerability and, most importantly, affordability.”

For further information on National Grid’s business plan, visit yourpowerfuture.nationalgrid.co.uk/riioed2-business-plan