Early investments by Great British Energy will include wind and solar projects across the UK Under the plans, Labour would set up a new publicly owned company, Great British Energy, with the aim of investing in homegrown energy sources and providing cheaper prices to consumers.Labour has promised to set up a new publicly owned energy company called Great British Energy if it wins the General Election.
Gas prices spiked across Europe in the aftermath of Russia’s 2022 invasion of Ukraine, a leading cause of the ongoing cost-of-living crisis.The company would invest in domestic power sources, with the aim of cutting energy bills. Labour says its plan is aimed at cutting the UK’s dependence on energy sources from hostile, foreign countries and keeping bills downThe SNP became the dominant party in Scotland’s Westminster parliamentary constituencies in 2015, taking many traditionally Labour seats in the nation’s central belt.
Scottish MPs and workers in the sector have called for a “just transition” away from fossil fuels, with new industries phased in to replace it.While unions have generally welcomed the plans, those with members in the oil and gas sector have called for more detail and swifter movement by Labour to ensure the just transition.“If we choose to go slowly, others will provide the answers and we will ultimately end up buying the solutions rather than selling them.
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What is Labour’s Great British Energy and how will it work?Sir Keir Starmer has been setting out Labour’s energy offer.
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