Working people will benefit from cleaner, homegrown power, as
Great British Energy takes another major step forward today.
Legislation for Britain's new publicly-owned energy company has
passed through Parliament and Great British Energy is set to
deliver for working people.
Great British Energy will invest in clean power projects across
the UK as part of the government's Plan for Change to become a
clean energy superpower – helping to get off the rollercoaster of
fossil fuel prices and protect families' finances.
Backed by £8.3 billion over the course of this parliament, the
company will speed up the delivery of strategic energy projects
and invest alongside the private sector to get new technologies
like floating offshore wind up and running as part of the
government's modern Industrial Strategy.
The Energy Secretary is today visiting a hospital in Hull where
solar power is saving the hospital hundreds of thousands of
pounds each month, allowing money to be reinvested in frontline
services.
That's why Great British Energy is investing £200 million in
funding for new rooftop solar power and renewable energy schemes
for schools, hospitals and communities – saving hundreds of
millions on their energy bills. In April NHS Humber Health
Partnership was awarded nearly £8.5 million from this fund, which
will deliver up to £14.2 million in lifetime bills savings.
As part of this, yesterday Scotland's community energy fund
opened for applications, backed by £4 million from Great British
Energy for local clean energy projects – from community-led
onshore wind, to solar on rooftops and hydropower in rivers –
generating profits which could be reinvested into community
projects or take money off people's bills.
Meanwhile people in Wales will benefit from nearly £3 million of
Great British Energy funding for local renewable projects.
Energy Secretary said:
“Great British Energy comes from a simple idea: British people
should own and benefit from our own natural resources.
“We are giving people a stake in clean energy and delivering
profits for the British people.
“As part of our Plan for Change, this will make us a clean energy
superpower and help bring down energy bills for good.”
Great British Energy Chair Juergen Maier said:
“Great British Energy was created to ensure British people reap
the benefits of clean, secure, homegrown energy.
“We now have full backing to scale up the company, crowd in
investment, and back clean energy projects across the country.”
Today Great British Energy will host a roundtable in Edinburgh
alongside the Scottish Secretary, , focussed on the supply chain opportunities in
Scotland. It follows Great British Energy's initial £300 million
funding for offshore wind supply chains. This will support
Britain's engineers, technicians, and welders and invest in
offshore wind manufacturing components such as floating offshore
platforms and cables in the UK's industrial heartlands.
As part of the government's modern Industrial Strategy, which
will turbocharge growth in the UK's key sectors including clean
energy, this investment is part of the Prime Minister's drive to
ensure that the clean energy future is ‘built in Britain'.
The Energy Secretary will soon outline Great British Energy's
strategic priorities – including which technologies the
government expects the company to focus on and how it should
consider the public benefits from investment decisions.
The Great British Energy Bill received legislative consent from
all three devolved governments, the first Bill to under this
parliament. This will allow Great British Energy to operate more
effectively in every devolved nation and benefit people across
the UK.
