Stephen Morgan MP backed Labour’s announcement today in government it would 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.
Labour believes 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, the Labour Party says.
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.
Keir Starmer outlined on Sunday 25 September how Labour will deliver a zero carbon electricity system by 2030. This ambitious 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 says its 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 Keir Starmer MP, Leader of the Labour Party, said:
“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.”
Stephen Morgan, the Member of Parliament for Portsmouth South, 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 people of Portsmouth and the country.”
