YOUR IDEAS
Funding
Our team of innovators have a proven track record of turning new ideas into business-as-usual products. With funding coming from a range of different sources, our five dedicated teams can help get your idea off the ground.
What we look for
Because we’re ultimately spending our customers’ money on innovation, we have a duty to make sure we’re only spending it on projects that are going to deliver real, tangible benefits to them. To make sure we’re on the right track, we make sure our projects:
Improve the reliability of our network
Support the transition to Net Zero
Cut costs for the network or our customers
Support our most vulnerable customers
A range of funding options
A range of funding options
Strategic Innovation Fund
The Strategic Innovation Fund (SIF) is designed to drive the innovation needed to transform gas and electricity networks for a low-carbon future. Delivered in partnership with Innovate UK, the SIF programme taps into the best of UK and international innovation whilst aligning with other public innovation funding for the benefit of network users and consumers.
A range of funding options
Network Innovation Allowance
Supported by Ofgem, the Network Innovation Allowance (NIA) helps networks take forward innovation projects that have the potential to address consumer vulnerability and/or deliver longer–term financial and environmental benefits for consumers. The purpose of the NIA is to fund smaller projects worth from about £50,000 to £2m.
A range of funding options
Business Funded Innovation
UK Power Networks has a dedicated funding stream for innovative projects with the potential to make provide immediate network improvements. Our team collaborate with innovators to provide a range of projects which improve safety, reduce operating costs, increase efficiency and reduce our impact on the environment.
A range of funding options
Electricity Network Innovation Competition
The Electricity Network Innovation Competition (NIC) was an annual opportunity for electricity network companies to compete for funding for the development and demonstration of new technologies, operating and commercial arrangements. NIC funding for new innovation projects was brought to a close at the end of the RIIO-ED1 price control in March 2023 and replaced with the Strategic Innovation Fund. Existing projects will be seen through to completion.
A range of funding options
Innovation and Support Opportunities with the Energy Innovation Centre
Got an innovative energy idea but need a hand to move it forward?
The Energy Innovation Centre (EIC) can guide you step by step, helping you move from concept to a real project with the energy networks.
Working in partnership with UK Power Networks, the EIC provides free business opportunities, support and resources that can help you develop your ideas, understand industry needs and engage with UK energy networks.
What you can access:
· Free Support: No cost to get involved at any time
· Industry education: Learn how the UK energy sector works and what networks are looking for
· Real Business Opportunities: Access innovation funding
· Help from Start to Finish: From idea to trial, roll-out and business as usual
· Expert Guidance: practical support on delivery, governance, finance and legal
· A Named Contact: Dedicated account managers to keep projects moving
· One to One Mentoring & Q&As: Speak with our experts to get quick answers
· Resources: Free guides to help you when you need it
· Right People, Right Direction: Connect with UK energy networks and understand the sector needs
· Signposting: To relevant support available from other organisations
The EIC is an independent, not for profit, dedicated to supporting you through the innovation process every step of the way.
We work with the EIC to identify, develop and progress new ideas that could make a real difference to the UK energy industry. Their specialist team will guide you through the process from concept to reality. Visit the EIC now at www.ukeic.com and discover the latest opportunities, resources and become part of their global innovation community.
If you have an idea that could reshape or revolutionise the way we work, we want to hear from you.
Submit an idea