Should Labour win the next election - as current polls suggest - the party will create a publicly owned energy company within its first year in office, Sir Keir Starmer has announced at the party’s annual conference in Liverpool.
The company would be named Great British Energy, and it would be modelled after France's EDF and other firms owned by foreign states operating in the UK, with the goal of taking "advantage of opportunities in clean British power", Starmer said.
The role of GB Energy will be to provide additional capacity alongside the private sector, to establish the UK as a clean energy superpower and guarantee long-term energy security, the Labour leader said. It was “right for jobs, right for growth and right for energy independence from tyrants like Putin”, Sir Keir said, and promised a new state-owned energy firm to help build a “fairer, greener, more dynamic nation”
Great British Energy would be set up with public money...