The UK regulator Ofgem has granted early access to almost GBP4bn (€4.8bn) of investment for crucial transmission equipment and services in the United Kingdom. Under Ofgem’s new Advanced Procurement Mechanism (APM), the regulator expects to unblock supply chains by allowing Britain’s electricity transmission owners (TOs) to buy essential equipment in advance of when it is needed. Approved projects should be able to break ground as soon as planning approval is granted, avoiding delays, controlling costs and attracting international investment.
The mechanism should help to start about 80 transmission projects that are estimated to be required to achieve the UK’s net-zero target by 2030. This fast-track measure is a model that could be extended in the future to develop other areas of the energy sector and possibly mirrored by other regulatory bodies supporting the delivery of national infrastructure.
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