July 1 (Reuters) - British energy regulator Ofgem on Tuesday said it has given a provisional approval for an initial 24 billion pounds ($32.98 billion) investment programme to boost energy security and operate and maintain critical gas networks and electricity grid in Britain.

"This record investment will deliver a homegrown energy system that is better for Britain and better for customers. It will ensure the system has greater resilience against shocks from volatile gas prices we don’t control," Ofgem CEO Jonathan Brearley said in a statement.

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https://www.reuters.com/sustainability/boards-policy-regulation/ofgem-approves-33-billion-pound-plan-upgrading-uks-energy-networks-2025-07-01/