NIE Networks is to invest over £3bn in Northern Ireland’s electricity network over the next 10 years in order to facilitate climate change targets.
It also plans to create more than 1,000 jobs between now and 2032 in an attempt to achieve net-zero carbon emissions.
NIE Networks said the investment would help its 910,000 customers connect to low-carbon technologies like electric cars, solar panels, and heat pumps.
But it will mean an additional cost to customers of about £10 to £20 a year.
NIE Networks owns the network of lines, poles, and substations that takes electricity from power stations to homes and businesses.
It does not generate electricity, nor does it sell power to consumers.
‘Invest now to avoid higher costs’
Its managing director Derek Hynes said a “significant step change” was needed in the level of investment to “facilitate the scale of decarbonization” required as a result of the new climate change law.
“We believe that we will need to create 1,000 new jobs, including 400 apprenticeships in NIE Networks and up to 500 new jobs in our contractors and support partners, between now and 2030,” he said.
Mr. Hynes added that it was important to be “transparent with our customers” about an increase in network charges of about £10 to £20 per year, but that it was “critical we invest now to avoid higher costs in the future”.
The Centre of Advanced Sustainable Energy (Case) said Northern Ireland’s targets for dealing with climate change were “ambitious” but could not be met without major investment in energy infrastructure.
“In the long-term, we would see many benefits being realized through this investment,” said Martin Doherty from Case.
“Alongside the positive economic impact on the supply chain and wider industry, this will go a long way to enabling Northern Ireland to meet the target of 80% of electricity coming from renewable sources by 2030 which, in turn, could ease the pressure on energy bills.”
Details of the investment are part of NIE Networks’ business plan, which was submitted in March to the Utility Regulator.
The regulator will assess it and publish a draft determination for public consultation in November.
The regulator is expected to publish a final determination and proposals on license modifications in October 2024.
