The Mayor of London recently launched a working group charged with generating investment for London’s power network, in line with his stated objective of generating at least 25 per cent of the city’s energy needs by decentralised energy by 2025.
Boris Johnson was speaking at his first Electricity Summit, a gathering of stakeholders in the energy industry including representatives from Ofgem, London First and the major distributor UK Power Networks, to consider how investment can best be planned and used to secure an accessible and resilient electricity network.
He said, “Developers, new start-up businesses and global corporations must have confidence in London’s power network if they are to continue to invest in the capital and drive jobs and growth.
“To maintain London’s reputation as the best big city in the world to do business as our population continues to grow, we must look at cost effective, sustainable ways to make sure our electricity supply can meet demand.
“I’m grateful to the experts who have taken part in today’s summit and look forward to working with them to help create an energy network fit for the future.”
The UKCHPA reports that demand for electricity in the capital is expected to grow by up to four per cent a year over the next decade.
The Mayor is working with the energy industry to explore how local networks could become more effective and efficient, for example by investing in decentralised energy, tapping into unused heat sources including waste and recycling plants in the capital, and opening up electricity supply licensing to allow smaller electricity generators to enter the supply market, creating an innovative and flexible energy network for the future.
The working group, to be chaired by the Deputy Mayor for Planning Sir Edward Lister, will meet regularly to help advise the Mayor, jointly plan and promote short and long-term cost effective investment. Their work will help the Mayor achieve his target.
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