Ofgem has provisionally approved billions of pounds to enhance energy security and upgrade Britain’s electricity supergrid in a move that’s been greeted by the EV charging sector.

An initial £8.9bn investment is being committed to the high-voltage electricity network, with a further £1.3bn ready to go – powering the biggest expansion of the electricity grid since the 1960s. The draft settlement is the first step in an estimated £80bn investment programme boosting electricity network capacity that the energy regulator said would protect UK households from the volatile international gas markets that have caused massive fluctuations in energy bills in recent years.

The investment is part of an initial £24bn investment programme that also includes over £15bn to ensure the continued safe operation of Britain’s gas transmission and distribution networks.

The investment in the grid, which will rise to around four times the current spending levels, will significantly increase the grid’s capacity, through new power lines, substations and other technologies, to handle the flow of electricity from new renewable sources.

It means up to 126GW of clean power generation will be connected to the grid by 2030 alongside additional flexible storage and technologies.

Ofgem chief executive Jonathan Brearley said:  ”By bringing online dozens of homegrown, renewable generation sites and modernising our energy system to the one we will need in the future we can boost growth and give ourselves more control over prices too.”

The draft determinations have been published for consultation with final decisions made by the end of 2025.

The planned investment comes on the back of concerns of “gridlock” on fleet connections for depot charging and follows the Government’s recent announcement that it will fast-track grid connections for data centres, wind farms and solar power installations.

National Grid welcomed Ofgem’s announcement. A spokesperson said: “We are pleased to see Ofgem continuing to recognise the need for significant levels of investment in networks, and the requirement for an investable framework to support its delivery.”

EV charging stakeholders also greeted the news.

Quentin Willson, founder at FairCharge, said: “Reform of the electricity market is paramount as Britain has some of the highest energy costs in the developed world. Investing now in a more reliable and efficient grid is welcome news, but we need to reduce the marginal pricing element of gas on our electricity generation and stop the huge curtailment costs of shutting down wind turbines because we don’t have the battery storage for renewables.”

And Delvin Lane, chief executive at InstaVolt, commented: “It’s great to see large-scale investment in the grid, as we move to a renewable-powered future. InstaVolt is laser-focused on delivering public charging infrastructure, ahead of time, using private money; we have committed to building 11,000 ultra rapid chargers in the UK and Ireland by 2030, so news like this gives industry the comfort it needs that the Government is listening to current hurdles and is willing to take action.”