Energy News – Early July 2025
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3 July 2025: Industrial Energy Transformation Fund now closed
Following the Spending Review, it has been decided that there will be no further extension of the Industrial Energy Transformation Fund (IETF) and that the planned second competition window of IETF Phase 3 will not take place. No successor fund to the IETF is planned.
In the 2024 Autumn Budget, the Government committed £163 million to continue delivery for all current projects in Phases 1 and 2 and the first Phase 3 competition window of the IETF through to completion. This remains the case and all successful projects from those competition windows remain fully funded.
If you have any queries, please contact the IETF team at IETF@energysecurity.gov.uk
The Office of Gas & Electricity Markets (Ofgem), the energy regulator for Great Britain, has granted initial approval, subject to consultation, to 80 energy projects delivering new powerlines and substations. More than £15bn will ensure the continued safe operation of Great Britain’s gas transmission and distribution networks, Ofgem said.
An initial £8.9bn investment is being committed to Britain’s high-voltage electricity network, with a further £1.3bn ready to go, to power the biggest expansion of the electricity grid since the 1960s. The draft settlement for RIIO-T3 (April 2026 to March 2031) is the first step in an estimated £80bn investment programme boosting electricity network capacity.
