10 Apr 2017
Investment in a series of innovative projects could see forecasted benefits of £100 million for bill payers by 2021, according to a new report published today by National Grid.
The ‘Innovation Value Mid-Term Report’ reflects National Grid’s performance in delivering value through investments in innovation. This is the first time a network company has quantified the value of improving, modernising and changing ways its ways of working.
Across ten different projects on its gas transmission network, National Grid has already seen savings of £6.9million; savings that represent four times the value that the company invested.
One project example is the installation of new gas sampler analysers, a piece of kit that determines the composition of gas, across the high pressure network. Replacing the traditional design with smarter sampling means less excavation work is required, as well as fewer construction materials which in turn shortens length of the project. This new technique delivered a total saving of £1.3m across 37 installations.
Pauline Walsh, Director of the Gas Transmission business at National Grid said,“Successful innovation takes drive passion and commitment and can come in many forms; be it new technology, commercial improvements or new ways of working. Innovation has huge potential to make things better for our customers and for bill payers by helping lower bills. I’m delighted with the value we have already delivered and the future value we expect to capture.”