LONDON, March 31, 2026, 19:16 BST
National Grid plc and SP Energy Networks on Monday locked in £3 billion of major supply-chain deals for Eastern Green Link 4, a 2-gigawatt subsea cable project running between Scotland and England—one of five east coast links aimed at clearing grid congestion. Siemens Energy is tapped for the HVDC converter stations, while Prysmian will deliver the cable system. 1
Timing is key here. Britain’s RIIO-3, the next five-year price-control cycle that determines how much network owners can earn, kicks off April 1. Earlier in the month, National Grid raised its investment target to at least £70 billion by March 2031, signed off on Ofgem’s RIIO-T3 transmission deal, and projected earnings-per-share growth between 13% and 15% for fiscal 2027. Chief Executive Zoë Yujnovich called the strategy “disciplined execution, at scale.” 2
National Grid points to decarbonisation, energy security, and a surge in demand from data centres, AI, and broader electrification as the main forces behind its ramped-up investment. UK wind generation has hit records this year, helping offset the impact of higher fossil fuel prices and underscoring the need for more transmission links between Scotland and England. 3
Eastern Green Link 4 aims to ship power produced in Fife down to Norfolk, targeting constraint costs—the fees that pile up when grid congestion blocks cheaper supply from reaching where it’s needed. A £600 million loan from the National Wealth Fund to ScottishPower, which owns SP Energy Networks, landed last week, intended to get the 2-gigawatt project moving. The fund estimates the subsea link could deliver enough electricity for 1.5 million homes. 4
James Goode, who leads EGL4, pointed to the awards as evidence of “scale and momentum” with the project now shifting to its delivery phase. More UK contracts are on the way, according to deputy project director Iain Adams. Siemens Energy’s Darren Davidson added the project will help support skilled jobs in the UK. 1
National Grid’s supplier roster is drawing attention. Siemens Energy, according to the company, is handling the converter stations in both Scotland and England. Prysmian, which secured its contract earlier, is responsible for the subsea and underground cables. David Worthington, an executive at Prysmian, said the company will tap its Middlesbrough marine facility along with a network of over 100 UK suppliers. 1
National Grid is scrambling for both kit and capital ahead of the upcoming regulatory reset, but it’s hardly the only one. ScottishPower boss Keith Anderson told reporters last week that projects like EGL4 are focused on “delivering energy security”, while SSE, back in December, pledged at least £22 billion of investment through its SSEN Transmission arm for grid upgrades starting April 2026. 4
The sluggish pace of infrastructure remains a drag. National Grid flagged in a March filing that factors like regulation, customer demand, financing, and third-party delivery could still shift outcomes for EGL4. The project’s main construction window isn’t due until 2028, with completion eyed for 2033, and it still needs planning consent. 1
Another sticking point: who foots the bill. Ofgem projected in December that a £28 billion overhaul of the grid, stretching over five years, could push up the typical household’s costs by around £108 by 2031. The regulator, however, argued that broader efficiencies might leave the net increase at under £3 per month. 5
