Burnham to unveil public body to invest in electricity grid

illuminem summarises for you the essential news of the day, reviewed by our editorial team. Read the full piece on BBC News or enjoy below:

🗞️ Driving the news: UK Prime Minister Andy Burnham is expected to announce Great British Grid (GB Grid), a publicly owned body that would invest in electricity transmission projects and compete with private network companies
• The aim is to accelerate grid connections for businesses and new power projects while increasing public involvement in infrastructure.

🔭 The context: Britain needs a major expansion of its ageing electricity network as generation shifts toward more remote renewable projects such as offshore wind
• Ofgem estimates £70 billion of grid investment is required between 2025 and 2031, roughly four times the current investment rate
• GB Grid would be funded from the existing budget of Great British Energy and could co-invest with companies building their own connection infrastructure

🌍 Why it matters for the planet: Faster grid connections could help bring renewable generation and electrification projects online more quickly, potentially reducing reliance on fossil-fuel generation
• The climate impact will depend on how quickly new network capacity enables low-carbon electricity to replace higher-emitting sources

⏭️ What’s next: Burnham is expected to set out the details at the Labour Party conference, including how GB Grid will work alongside private transmission owners
• The government has also set a goal of bringing UK energy costs closer to those of other European countries within a decade

💬 One quote: “It will increase competition to drive down costs and speed up delivery so businesses can connect faster and grow quicker,” Burnham is expected to say

📈 One stat: £70 billion — Ofgem’s estimated grid investment requirement for 2025–2031.

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