Labour announces their Great British Energy company designed to cut bills, promote energy security and help the UK towards net-zero


  • £3.3bn for a Local Power Plan (largely disbursement of funds LA’s, metro mayors, community groups) – to be up and running quickly
  • Incorporate company through the Energy Independence Bill plus get Board, interim boss in place (drawing on UKIB expertise)
  • Remaining £5bn as investment capital to establish itself in market – longer term endeavour.
  • Might be based in Aberdeen… .but note GIB – HQ in Edinburgh while investment team in London – could feasibly have different aspects run from different locations.

See also

  • Politico’s analysis here:
  • the Labour Party’s own announcement here:
  • Ed Miliband on YouTube here:
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