A £22 billion “mission critical” investment into the country’s power infrastructure is expected to support around 8,400 Highland jobs.
SSEN Transmission, the organisation responsible for running the power grid, have unveiled their latest business plan, one of the largest of all time.
It is one of the largest ever infrastructure programmes ever made, which will also aid in the building of around 1,000 homes in the Highlands and the north-east.
These homes will house construction workers and their families who will be needed to carry out the re-fit of the country’s power network.
And economic benefits of around £3bn are expected for the north, SSEN Transmission highlighted, part of an expected £7bn generated nationally.
The company is expected to invest more than £31bn across the UK.
£22 billion investment jobs boost
SSEN Transmission is responsible for the electricity transmission network in the north of Scotland, and is part of SSE plc.
The investment includes the maintenance of the high voltage 132kV, 220kV, 275kV and 400kV electricity transmission network.
SSEN Transmission said the investments is a “critical enabler” of government climate change and energy security targets.
Spending the cash will deliver a “pathway to net zero emissions” as part of the UK Government’s clean power by 2030 ambition.
Managing director Rob McDonald said: “Our RIIO-T3 business plan sets out an ambitious, deliverable blueprint to unlock the unprecedented levels of investment required to deliver UK and Scottish net zero and energy security targets, including the Clean Power by 2030 mission.
“In what is one of the largest investment programmes of all time in Scotland, this plan will also support tens thousands of jobs across the country, turbo-charging the economy and delivering a transformational and lasting legacy for communities, the economy and nature.
“We now look forward to working constructively with Ofgem, government and wider stakeholders to ensure the future regulatory framework secures the investment required to support the nation’s ambitious goals and delivers the vast economic opportunities the clean transition presents.”
North of Scotland to benefit
Economic analysis independently peer reviewed by Biggar Economics, forecasts, if delivered in full, the potential £31.7bn total investment could support up to 37,000 jobs across the UK, 17,500 of which in Scotland, including 8,400 in the north of Scotland.
Alistair Phillips-Davies, SSE chief executive, added: “The RIIO-3 price control comes at a critical juncture in the effort to deliver a cleaner, more secure and affordable electricity system for current and future generations.
“With a new national mission to deliver clean power by 2030 in order to boost energy security and protect future consumers, unlocking the right level of investment during the next price control will be key.
“We’re setting out today the extent of our ambition and commitment. It is now crucial that Ofgem backs that ambition with an investable and financeable framework, setting an appropriate cost of equity that recognises the unprecedented levels of investment required to decarbonise the economy and deliver a clean power system.”
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