Power network operators unveil £17bn smart grid plan
Electricity network operators across England, Scotland and Wales have committed to deliver £17 billion of benefits by 2050 as a result of the overhaul of the networks.
They have announced a joint commitment to create new markets “to enable flexibility services that will compete alongside traditional investment”.
Under the plans, consumers could sell power generated by solar panels and turbines or from electric vehicles or directly to neighbours using blockchain technology and be paid to do so.
Businesses can also adjust their electricity use when they least need it and use smart energy efficient technology to adjust consumption remotely as well as buy power from battery storage.