This plan is the most important we have ever produced, developed at a pivotal time. The challenge to achieve legislated Net Zero targets will impact every part of society, with electricity at the heart of the solution.
We forecast that up to 1.8m electric vehicles, 1.1m heat pumps, and up to triple the amount of distributed generation, will be connected to our networks by the end of this decade. This is a radical change.
We propose to spend over £3.3bn, a 28% increase on what we do today, in enabling the path to Net Zero. This has been built upon our largest ever engagement programme, with over 19,000 customers and stakeholders shaping our 100 plan commitments. This plan reflects the voices of the communities we serve, and their priorities form the foundation of our RIIO-ED2 strategy.
Those voices have been clear: we must be bold as we reimagine the role of our network, the services we provide, and the capabilities of our business. We must match the ambition of our customers alongside the devolved governments and major cities that we serve, whose elected representatives have set out their visions to achieve Net Zero and the targets newly agreed at COP26.
In delivering this plan, we can tangibly and meaningfully contribute to a just transition to Net Zero. This is both about addressing the societal impacts from climate action and doing the right thing by our communities by delivering positive social change through the low carbon transition. We will generate real economic growth by recruiting for over 1,100 jobs during RIIO-ED2, targeting this from the communities that we serve, with more again in our supply chain. This is something that resonates strongly with me, given that the areas we serve face extremes of rural and urban poverty. We must ensure all communities have opportunity in the transition to Net Zero.
In over 30 years of my career in this industry, I have witnessed an enormous amount of change across the full value chain of the electricity sector. The decades since privatisation have delivered huge improvements in service to our customers, and I’m proud to lead a business that continues to push the boundaries. But I see greater change, and greater opportunity, ahead.
By starting this journey now with you, our customers, and our stakeholders, we can build a better future, quicker.
Chief Executive Officer