£300M FRESH INVESTMENT INTO THE UK’S CHARGING NETWORK

Ofgem Britain’s independent energy regulator recently announced they are investing £300m into the UK’s charging infrastructure.

Ofgem’s role is to protect consumers now and in the future by working to deliver a greener, fairer energy system and support climate change targets in the UK.

Over the next 2 years the money will support the install of 1,800 new ultra-rapid charging points around the country at motorway service areas. As well as a further 1,750 charge points will be supported in town and cities. This will triple the current network.

Jonathan Brearley, chief executive of Ofgem said: “This £300 million down payment is just the start of building back a greener energy network which will see well over £40 billion of investment in Britain’s energy networks in the next seven years.

UK drivers are making the switch from diesel and petrol to Electric Vehicles and with the UK’s current cabling infrastructure, regular upgrades are required to be able to keep up with the demand for electricity. According to the latest statistics there are over 40,000 charging stations across the UK at over 15,000 locations.

Ofgem research found that 36% of households that do not intend to get an Electric Vehicle are reluctant due to the lack of charging points near their home. This investment will help manage range anxiety consumers currently have. Drivers want to be confident they can charge their cars when they need to.

As Ofgem shout about the investment they plan to make over the next 2 years, automotive retailers should be doing the same to their audience. EV charging points for customers are becoming more accessible by the day, week, and year.

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