UK regulator gives go ahead of 40 billion pound energy investment plant

(Reuters) – British energy regulator on Tuesday gave the go-ahead for up to 40 billion pounds ($53.4 billion) in energy system spending by the country’s network companies between 2021-2026.

This included 30 billion pounds of upfront spending for the companies, in addition to 10 billion pounds in additional funding for future green energy projects.

The major investment programme into Britain’s energy infrastructure aimed to improve services for customers, reduce the impact of the networks on the environment and drive a fair price for consumers, the regulator said.