has announced that a Labour
government will create Great British Energy - a new,
publicly-owned clean generation company that will harness the
power of Britain’s sun, wind, and waves - to cut energy bills and
deliver energy independence for our country.
The role of GB Energy will be to provide additional capacity,
alongside the rapidly expanding private sector, to establish the
UK as a clean energy superpower and guarantee long term energy
security.
A publicly-owned company is the best way to ensure that the
British people can derive the benefits from the power that we
create on our own shores - delivering cheaper bills, good local
jobs, and bringing money back into the public purse. This will
enable strategic partnership between the private sector and
government to deliver its plan for clean power.
Many European, Asian, and American countries have public
generating companies, like EDF in France and Vattenfall in
Sweden, which partner with the private sector to increase
capacity and build clean energy at scale.
A lack of domestic champions has often compromised the UK’s
sovereign capability. It is clear that the Conservative
government’s preference for foreign investors stalled our nuclear
programme in the 2010s - even to the point that national security
was compromised through Chinese encroachment into the UK’s
nuclear capacity.
outlined on Sunday 25
September how Labour will deliver a zero carbon electricity
system by 2030. This ambitious and achievable target would make
the UK the world’s first major economy to do so, slashing energy
bills for good, creating thousands of good jobs, and making the
UK energy independent. Clean Power by 2030 would save £93 billion
for UK households over the rest of this decade.
The announcement of GB Energy builds on Labour’s world-leading
commitment to make the UK a clean energy superpower by 2030 and
create a National Wealth Fund.
Labour’s plan is a pragmatic way to help deliver clean power at
scale so we can cut energy bills, deliver energy security, and
create good jobs for the British people.
Sir MP, Leader of the Labour
Party, is expected to say:
“Labour’s Green Prosperity Plan is a plan that will turn the UK
into a green growth superpower. And driving the plan forward is a
goal that will put us ahead of any major economy in the world.
One hundred percent clean power by 2030.
“Labour will make sure that the public money we spend building-up
British industry, spurs on private investment, stimulates growth
… and the British people enjoy the returns.
“Labour won’t make the mistake the Tories made with North Sea oil
and gas back in the 1980s. Where they frittered away the wealth
from our national resources.
“Just look at what’s happening at the moment. The largest onshore
wind farm in Wales. Who owns it? Sweden. Energy bills in Swansea
are paying for schools and hospitals in Stockholm. The Chinese
Communist Party has a stake in our nuclear industry. And five
million people in Britain pay their bills to an energy company
owned by France.
“Labour will set up Great British Energy within the first year of
a Labour government. A new company that takes advantage of the
opportunities in clean British power, and because it’s right for
jobs, because it’s right for growth, because it’s right for
energy independence.
“The road to net-zero is no longer one of stern, austere,
self-denial. It’s at the heart of modern,
21st century aspiration. Technology has turned
everything on its head. Green and growth don’t just go together –
they’re inseparable. The future wealth of this country is in our
air, in our seas, and in our skies. Britain should harness that
wealth and share it with all.”
MP, Labour’s Shadow Secretary for Climate and Net
Zero, said:
“Labour will deliver an energy system for people and planet.
Foreign governments own large parts of our energy system, and
reap the wealth that flows from it.
“As we implement our clean power plan, it’s time to have our own
publicly-owned domestic champion in energy generation, creating
wealth and jobs in Britain.
“Labour will build an energy system for the future, run for the
British people.”
