UK passes £100bn of clean-energy investment since 2024
The government announced that private clean-energy investment in the UK has passed £100 billion since it took office in July 2024. Energy Secretary Ed Miliband confirmed the figure at London Climate Action Week. The money is spread across grids, offshore wind, nuclear and battery storage.
Where the money is going
| Commitment | Value |
|---|---|
| National Grid's expanded five-year framework | £40 billion |
| Iberdrola and ScottishPower UK capital plan (grids and renewables) | £24 billion |
| Expected private investment from the latest renewable auctions (14.7 GW across 201 projects) | £27 billion |
| Japanese investment into UK offshore wind | up to £9 billion |
The government paired the announcement with support for oil and gas workers moving into clean-energy jobs, aimed at the North Sea workforce.
What it means for bills
This is investment in building generation and grid capacity, not a cut to your bill this quarter. Near-term prices are still set by the Ofgem price cap, which rose 13% from 1 July 2026. The case for the spending is medium-term: more home-grown renewable generation and stronger grid links reduce exposure to volatile gas prices over time. Announcements are also commitments, not delivered projects, so the test is how much of the £100 billion turns into operating capacity.
The supplier angle
ScottishPower's parent Iberdrola accounts for £24 billion of the total through grid and renewable plans. We track ScottishPower's record across service, value and sustainability on its supplier profile.