New technologies and innovation are in demand as the UK’s electrical networks industry transforms, presenting opportunities for long-term investment.
Electrical networks in the UK
Investment opportunities in electrical networks that promote change
You’ll find the UK market an exciting and challenging one, with plenty of opportunities for dynamic, innovative companies.
The networks of the future will have to be different to the ones that have served the UK in the past as we move towards a low-carbon future.
Increases in electricity demand and the increasing decarbonisation of power generation, need capital investment in infrastructure of an estimated at 100 billion GBP.
The electricity network is evolving to accommodate new types and location of electricity generation. There are 3 transmission network operators (TNO) and 6 distribution network operators (DNO) in their market. The mix of new smart energy products and services and conventional maintenance of existing network integrity makes this an exciting and dynamic market.
The distribution network is most likely to undergo the biggest change in the coming years and the DNOs are seeking new suppliers to increase customer-focused performance benefits. Rising interest in community energy schemes is also creating a new movement in the market for network products and services.
There’s also an increasing requirement for smart technologies as UK customers are early adopters of smart tech-focused energy solutions.
An expert workforce dedicated to growing the electrical distribution industry
In the UK, your company will benefit from a highly skilled workforce with extensive research and development experience, focused on benefitting the customer.
We have universities offering world-class engineering degrees at undergraduate and postgraduate level, all feeding into our energy industries.
With the involvement of network operators and the supply chain, the industry’s apprenticeship system provides training at all levels, ensuring the success of the next generation of UK produced technologies.
We’re finding new ways to develop talent, such as the foundation of a doctoral training centre in energy storage. Energy Systems Catapult, a technology and innovation centre set up to help the UK transform its energy system, also offers training support.
Incentives to innovate in a transparent electrical network market
Innovate UK, the UK’s innovation agency, provides funding support for innovations, which are integrating, low-carbon technologies into the energy system.
The Department for Business, Energy and Industrial Strategy also has an innovation fund for products and services for decarbonising the electricity network.
The UK government also has up to 50 billion GBP available to support finance and insurance for supplies from within the UK to buyers outside the UK. This support takes the form of guarantees, insurance and loans issued by the UK government export credit agency, UK Export Finance.