GB Energy will be an important step in securing the investment the sector needs

In the King’s Speech the Government announced that it will introduce a Bill to establish Great British Energy, a state-owned company to drive energy investment.

Great British Energy will have initial funding of £8.3bn. Government investment will be important in unlocking the private capital needed to build the infrastructure we need to decarbonise our energy supply.

Sue Ferns, Senior Deputy General Secretary of Prospect, said:

“The last ten years of energy policy have been rich on rhetoric but disappointingly poor on delivery so it is good to see a government immediately getting to grips with the challenges we face.

“The announcement in the King’s Speech of a bill to establish Great British Energy is especially important as it signals to private investors that we as a country are ready to take quick decisive action and back that up with public funding.

“Union members will be delivering the infrastructure we need in the coming years so we have a huge stake in the success of this endeavour. We are also ideally placed to advise on and how best to make sure training, planning and investment translates into good jobs and supports communities across the country.”