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Labour announces public clean energy plans

  • Publish Date: Posted 2 months ago
  • Author: Steve Walia

​If Labour wins the next general election, it will create a public renewable energy firm, according to plans released by Kier Starmer.

 

The Great British Energy firm would be developed along similar lines to the French EDF model and other similar businesses owned by European states operating in Britain.

 

It would facilitate a vast expansion of clean and renewable energy in the UK, Labour says, whilst creating thousands of skilled jobs and providing energy security of supply.

 

The plan was shared in the latest party's conference speech, to much applause.

 

Great British Energy would need public investment to be set up and then would have profits reinvested, with an independent operating model, according to Labour sources. It would build new solar, wind and wave projects and invest in renewable schemes in the private sector.

 

Labour's plans would see it begin as a small-scale initiative and then build up its market share through strategic clean energy investments. Labour also says that they could see the company grow to become a credible, significant generator in the broader competitive market.

 

However, it would not guarantee that every newly created clean energy job was located in the UK. Again, however, this would emulate other existing firms, such as EDF, which employs over 10,000 British workers across the UK.

 

Sir Kier said that Labour would leverage public funds to ensure that investment into a clean British energy industry would stimulate growth, encourage private investment and allow the British people to see clear returns.

 

He added that the party wouldn't make the same mistakes that the Conservative party made with gas and oil in the eighties. Ownership is a key issue. Wales' biggest onshore wind farm is actually Swedish-owned, meaning that profits from Welsh energy customers go to Stockholm.