On 29 October, the House of Commons passed the Government’s Great British Energy Bill.
The Bill will create a new company, GB Energy, which will be publicly owned and aimed at driving the development of low-carbon, clean energy. It will invest in energy projects alongside the private sector, helping get them off the ground. It will lead projects through development stages to speed up their delivery, while capturing more value for the British public.
It will support local energy generation projects through working with local government and communities across the UK. And it will build supply chains through the country, boosting energy independence and creating jobs.
The Government is committed to GB Energy as a sustainable, long-term project to protect bill payers from volatile international gas markets and to deliver the jobs and industries of the future. I also welcome the Government’s commitment that community energy will form an integral part of GB Energy’s local power plan, which will put communities at the heart of the energy transition and give them a stake in the shift to net zero.
