The network will work under the banner of Energy Networks Association (ENA) on new technologies like battery storage, low-carbon heat sources like hydrogen and biomethane and also on local renewable electricity generation.
In the plans it has published, the network reveals how companies will create a Gas Network Innovation Strategy and an Electricity Network Innovation Strategy.
The two strategies mark as to how network firms provide value for money from the innovative project they would undertake and how they will pass on the lessons learnt from the projects with other firms. Besides, the strategies will cover how the firms plan to incorporate the lessons into their daily operations.
Energy Networks Association CEO David Smith said: “Network companies are already using innovation projects to drive forward network performance, deliver better value for money and find new ways to harness the potential of energy technologies. These strategies will ensure that both the networks and the customers get the most out of those projects.
“But that is only one side of the network innovation coin. The other side is about how we harness the potential of energy technologies to enable new markets and provide new opportunities for consumers to have greater control of their energy bills and reduce their costs.”
According to the ENA, the Gas and Electricity groups will work closely with each other to make sure that the strategies are in line and whole-energy system benefits are achieved.
The network companies will conduct public consultations on their strategies. This will be done to make sure that technology developers, academics, policymakers and other stakeholders all have the opportunity to help create the strategies.
Later on, the strategies will be filed to the Office of Gas and Electricity Markets (Ofgem) on 31 March 2018.
