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Stakeholder Relations Team

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Would you like to invest in a greener future?

We are excited to launch Northern Gas Network’s first Green Transition Bond, offering everyone the opportunity to invest in hydrogen-ready gas network for a minimum investment of just £5. 

It’s the very first time a regulated energy business has offered a Green Transition Bond to the public and the money raised will help fund the upgrade of pipes to prepare the gas distribution network to transport hydrogen. 

Unlike the natural gas currently transported through the UK’s gas network, hydrogen produces no carbon when used, making it a viable fuel for homes and industry to meet the government’s target of net zero carbon emissions by 2050.  

The minimum investment is just £5 to allow as many people as possible to participate in the transition to net zero emissions We aim to raise £1 million through a lower-risk, long term investment with returns of 1.6 per cent a year over a 10-year term 

We have teamed up with Abundance, the UK’s leading ethical investment crowdfunding platform, to launch the bond and you can visit  www.abundanceinvestment.com/northern-gas-networks to find out more. Don’t delay as the bond offer will close once the £1 million is raised. 

Mark Horsley, CEO, Northern Gas Networks, said: The UK energy sector is facing an exciting transition. Whilst focus is often placed on how energy production must change, the networks that distribute our energy must change too. At NGN, we’re delivering on a clear plan for a Net Zero carbon network by 2050. Working in collaboration with our regulator, Ofgem, central government and the energy industry across the UK, our research is proving that hydrogen offers a safe, affordable and deliverable Net Zero solution, and with this investment we want our customers to be involved in this important transition. Repurposing the gas network to transport hydrogen is likely to be the least disruptive and most cost-effective solution to zero carbon home heating for the vast majority of the UK homes.” 

 

Our hydrogen vision 

 A third of UK carbon emissions come from heating our homes and businesses, posing a big challenge for decarbonisation. With eight out of 10 UK homes currently heated with natural gas, the option of piping in clean-burning hydrogen as an alternative fuel offers exciting potential for the transition to a low carbon energy future.  Our recent research showed that 70% of domestic customers and 73% of business customers were supportive of using hydrogen.

As part of our preparations to transition our network to net zero, three quarters of the region’s pipework has already been upgraded from metallic mains to polyethylene and the investment will help replace a further 2,900 km by 2026. This brings two major carbon cutting benefits: it creates a hydrogen-ready gas network; and makes an immediate impact on carbon targets by reducing emissions from the day to day operation of the network.  

But upgrading pipes is just one part of our preparations.  We are working tirelessly on a number of projects to support the energy transition as we believe a hydrogen conversion of the gas network will offer the most cost effective and least disruptive route to net zero home heating for the majority of the UK’s housing stock  

As lead partner in the H21 project, we are spearheading a suite of pioneering gas industry projects, aimed at proving that the existing UK gas network can be converted to transport 100% hydrogen. The projects have already demonstrated that it is economically and financially viable for the UK’s gas network to be repurposed to carry hydrogen and areas of focus now include assessing the changes needed to operational procedures to ensure a hydrogen gas network can be run as safely and reliably as today’s natural gas network. You can find out more about H21 here

In addition, we are partnering with the government’s Department for Business, Energy and Industrial Strategy (BEIS) and fellow gas distribution network company Cadent to build the first houses to demonstrate the use of hydrogen-fuelled appliances. The houses, at our Low Thornley site near Gateshead will be opening to the public in summer 2021 to showcase hydrogen appliances which look and feel like those used today, but create no carbon.   

Another project near Gateshead sees 670 properties in the community of Winlaton receiving a blend of 20% hydrogen as part of the HyDeploy project from summer 2021, subject to Health and Safety Executive approval. The HyDeploy project is demonstrating that a blend of hydrogen can be introduced to the gas network without requiring any changes to gas appliances, providing a potential steppingstone to 100% hydrogen gas networks in the future. You can find out more about HyDeploy here

 RISK WARNING
CAPITAL AT RISK. INVESTMENTS ARE LONG TERM AND MAY NOT BE READILY REALISABLE. 

YOUR INVESTMENT’S VALUE MAY VARY AND BE AFFECTED BY FACTORS LIKE CHANGING 

INTEREST RATES. THIS CONTENT HAS BEEN APPROVED AS A FINANCIAL PROMOTION BY 

ABUNDANCE INVESTMENT, WHO ARE AUTHORISED AND REGULATED BY THE FINANCIAL 

CONDUCT AUTHORITY