PRESS RELEASE : What is Great British Energy and what does it mean for me? [July 2024]
The press release issued by 10 Downing Street on 25 July 2024.
We will make Britain a clean energy superpower. The first step to achieving that is to set up Great British Energy.
Great British Energy will be a company owned by the British people, to deliver power back to the British people.
We believe people in this country should own and benefit from our natural resources, and Great British Energy is the first step to ending the UK’s energy insecurity.
What is Great British Energy?
Great British Energy will be a publicly owned, clean-energy company. It will own, manage and operate clean power projects, such as wind farms, up and down the country.
It will be headquartered in Scotland and paid for by a windfall tax on oil and gas giants.
How will it help me?
Great British Energy will invest clean power projects all across the United Kingdom, such as wind farms, which are the cheapest forms of electricity generation to build and operate.
This will help make our country energy independent, kicking tyrants like Putin to the curb, tackling climate change and saving families money.
And investing in clean domestic power will create jobs and build supply chains in every corner of the UK.
Why do we need a publicly owned energy company?
It should be the British people who own and benefit from our national resources.
Great British Energy will allow us to use resources that belong to all of us, and that should be harnessed for the common good – maximising our public assets, rather than flogging them off.
We already have public ownership of energy in this country, just by foreign governments. At the moment, taxpayers in other countries profit from our energy infrastructure but the British people are missing out.
Making Britain a clean energy superpower
Great British Energy is part of this Government’s mission to make the UK a clean-energy superpower.
As well as harnessing the power of clean energy, we will invest in the industries of the future, and create 650,000 jobs across the country by 2030.
We’ll invest in home insulation upgrades to help families save money on their bills, and improve access to nature, promote biodiversity, and protect our landscapes and wildlife.
