SSE unit in double project win
Scottish and Southern Energy Power Distribution (SSEPD) has been given the go ahead from energy regulator Ofgem for its £64m low carbon network projects in the Thames Valley and Shetland.
Scottish and Southern Energy Power Distribution (SSEPD) has been given the go ahead from energy regulator Ofgem for its £64m low carbon network projects in the Thames Valley and Shetland.
Ofgem will also provide the funding for the two projects which are set to transform the electricity distribution system, and help to prepare the energy industry for the move towards a low carbon economy.
Mark Mathieson, Managing Director of the SSE subsidiary, said: "The two projects have the potential to revolutionise the way in which Distribution Network Operators utilise their existing networks.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"They will allow us to anticipate, understand and support behaviour change in individuals, small businesses and larger companies, to help us manage our networks more effectively as the UK leads towards a low carbon economy."
The New Thames Valley Vision (NTVV) is a £30m project in Bracknell which aims to prepare the local low voltage network for the changes that lie ahead as more people adopt new technologies for generating electricity.
The Northern Isles New Energy Solutions (NINES) is a £34M project, which will address some of the most pressing energy challenges Shetland currently faces by allowing small scale renewable generation to play a more significant role in meeting the islands' energy needs.
The two projects are part of SSEPD's Innovation programme which will bring forward projects costing over £80m over the next three years to ensure its networks can support the UK's low carbon future.
The share price of SSE rose 1.83% to 1,277p by 12:06.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Is it time to ride the recovery in emerging markets?
Interview What's the outlook for emerging markets? Gustavo Medeiros, head of research at Ashmore Group, gives his analysis and reviews progress in developing economies
-
Could the Enterprise Investment Scheme cut your tax bill?
The Enterprise Investment Scheme is tax-efficient and potentially lucrative. Taking a chance on the scheme could trim your family’s IHT bill, says David Prosser