BRITAIN's electricity network needs tens of billions of pounds of investment to hit net zero goals, National Grid boss John Pettigrew has warned.

The chief executive said the grid required significant cash but investment would lower bills.

Pettigrew told the Sunday Times: "There's a real opportunity here infrastructure investment over time will reduce the UK's exposure to world gas prices and reduce energy prices, as well as create jobs and enhance GDP.

Pettigrew said the transmission network needed its biggest revamp since its launch in 1935 and waned there was "no time to lose".

(c) 2023 City A.M., source Newspaper