Great British Energy
Planned British governmental investment body
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Great British Energy (or GB Energy) is a planned British governmental investment body that has been announced as part of the British Labour Party's plans for energy policy.[1][2][3] The proposed body would invest in renewable energy. If elected, the Labour Party plans to pass legislation in the form of an "Energy Independence Bill" to enable the creation of the company.[4]
Prior to June 2024, Great British Energy had previously been floated by the Labour Party as being a proposal for the creation of an energy generating company, rather than an investment body.[5] The idea was originally created by the former Labour leader Ed Miliband as part of a wider platform of policies.[6]
According to the Labour Party's plans, Great British Energy would have its headquarters in Scotland.[7] A target has been set for GBE to be directly responsible for generating 8 GW of renewable power by 2030.[8] According to the Labour Party, some of the funding for GBE would be provided from additional taxation of the fossil fuel industry.[2]
References
- ^ "Switch on Great British Energy". The Labour Party. Retrieved 2024-06-01.
- ^ a b "GB energy firm would secure future jobs, says Labour". BBC News. 2024-05-30. Retrieved 2024-06-01.
- ^ "King's Speech - Debate (4th Day)". TheyWorkForYou. Retrieved 2024-06-01.
- ^ "Labour promised a state-owned energy company. Can it work?". POLITICO. 2024-05-29. Retrieved 2024-06-01.
- ^ "Labour's GB Energy plan branded 'a sham' as they admit 'it's not an energy company'". The National. 2024-05-31. Retrieved 2024-06-01.
- ^ "Labour has launched its Great British Energy policy - do we need it?". Sky News. Retrieved 2024-06-01.
- ^ "Energy HQ will bring huge number of Scottish jobs - Starmer". BBC News. 2024-05-31. Retrieved 2024-06-01.
- ^ Gatten, Emma (2024-05-31). "What is Great British Energy? Labour's flagship policy explained". The Telegraph. ISSN 0307-1235. Retrieved 2024-06-01.
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