A whopping £1.3 trillion – that’s how much investment the capital needs by 2050.
Launching a new report, “London Infrastructure Plan 2050”, London Mayor Boris Johnson said that London needs a “a real wake-up call” to fulfil the capital’s needs over the next half century.
The figure was today set out in an unprecedented “wake-up call” report laying out what transport, technology, energy and other infrastructure will be needed by 2050.
Key areas for the Energy Industry Included:
- An extra 9,000 hectares — 22,000 acres — of green space
- Transformed water and electricity networks
With energy demands at risk of outstripping supply and key developments such as those at Nine Elms at risk of delay as a result, the Mayor argues a strong long term plan to use energy more efficiently and bring in new capacity where we can is vital. A short term investment of £210m on electricity substations is required but in the long term changes to the regulatory regime must be considered as well as plans to supply a quarter of London’s energy from local sources and exploit the capital’s waste heat resource.
A more integrated approach to water management would help deal with demand for water which is predicted to exceed supply from as early as 2016. The plan outlines how innovative tariffs and better leakage detection could help plug the gap. He also encourages Thames Water to develop 25 year plans for wastewater, drainage and flood risk management.
Green infrastructure needs to become considered as much a part of the city’s vital systems as our other utilities. An extra 9000ha of accessible green space needs to be provided in both traditional and new ways. Green spaces need to be better planned, designed and managed to deliver benefits including more space for walking and cycling, flood mitigation, improved air quality, enhanced biodiversity and a cooler urban environment.
The Mayor’s Office suggests much of the extra cost can come from the private sector and be met through “better integration, asset management, procurement and forward planning”.
Demands that are going to increase:
- Demand for public transport – 70% increase in rail and tube capacity serving London’s economic heart.
- Demand on energy supplies is set to increase by 20%
- Thames Water projects demand for water will exceed supply by 10% in London by 2025, rising to 21% by 2040.
- London needs more than 600 new schools and colleges