A new study for National Grid concludes there are economic, environmental and political benefits to the UK of greater electricity interconnectivity with Europe.
“There’s been strong support from the UK Government and European institutions… let’s hope this positive momentum continues.”
Peter Boreham, National Grid’s Director of European Business Development
Doubling the capacity of the UK’s electricity grid interconnectivity with Europe to 8GW by 2020 could unlock up to £1bn of consumer benefits a year. That’s the conclusion of new analysis prepared for National Grid’s Interconnector business and published in Getting More Connected.
Besides the economic benefits of linking up with our neighbours, the report says that taking UK interconnectivity closer to the European benchmark of 10% of generation capacity will help with environmental targets. Peter Boreham, National Grid’s Director of European Business Development, said tapping into low-carbon hydropower from Norway, wind power from Denmark and Ireland, and even geothermal and hydro power from Iceland would help with meeting targets on renewable energy and carbon emissions.
More interconnectors will allow the UK to play a bigger part in the European integrated energy market and have the effect of reducing price volatility.
Writing for Utility Week, Peter said: “There’s been strong support from the UK Government and European institutions. In the new few months we expect Ofgem to unveil the new regulatory regime for interconnector links from the UK. Let’s hope this positive momentum continues.”