The British government wants to sweeten citizens' approval of new electricity pylons and substations in their vicinity and thus significantly accelerate the construction of such projects. Finance Minister Jeremy Hunt wants to give these people discounts on their energy bills in the future, the ministry announced on Sunday. The project also includes other measures to accelerate the project and could relieve a household of 10,000 pounds (just under 11,500 euros) over a period of ten years.

The government hopes that planning reforms will halve the current average construction time of 14 years for new power grids. The current duration is significantly longer than in other major economies and is holding back investment in the UK. Sources close to the Treasury said the expansion of the electricity grid would unlock global investment for the UK and bring improvements to people across the country. At the end of the day, energy security comes at low energy costs.

The plan is part of a statement that Hunt plans to present on November 22. The minister is also expected to extend existing incentives for business investment. The government's plans are hoping to boost Britain's stagnant economy ahead of next year's elections. The opposition Labour Party is far ahead of the ruling Conservatives in opinion polls.