Plans include a sub-sea electricity link between England and Scotland
Energy regulator Ofgem has unveiled plans to invest 拢24.2bn in the UK鈥檚 energy network.
The plans will see 拢15.5bn spent upgrading and expanding the UK鈥檚 high voltage transmission network and high pressure gas network.
This will include a massive sub-sea electricity link between Scotland and England.
There will also be a 拢8.7bn investment in Britain鈥檚 low pressure gas network under the plans.
However, Ofgem cut 拢7bn from the original expenditure proposed by energy companies in a move it said would help deliver value for money for electricity consumers.
Lord Mogg, chair of Ofgem, said the proposals delivered a 鈥渟ound regulatory environment鈥� and would 鈥渁ttract energy infrastructure investment鈥�.
鈥淭his provides a framework of strong incentives and penalties to stimulate the innovative and efficient operations of Britain鈥檚 energy companies,鈥� he added.
The spending plan runs from the beginning of the 2013-14 financial year to the end of the 2020-12 financial year.
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