The swift creation of GB Energy bodes well for hitting our Net Zero goals

The Government has announced that it is launching Great British Energy, a publicly owned energy company that will drive investment in the sector.

Part of the plan is a tie up with the Crown Estates, owned by the King, to allow easier development in areas where the Crown is the landowner.

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

“The urgency with which the new government has got on with the creation of Great British Energy bodes well for making the rapid progress we need to hit our Net Zero goals.

“Establishing GB Energy signals to private investors that we as a country are ready to take quick decisive action and back that up with public funding.

“GB Energy needs to be part of a whole system approach to the energy system, working along the wider public and private sectors to deliver on a fair transition to a low carbon electricity system. Ensuring a good supply of skilled workers will be essential – effective and ambitious cross-departmental working is necessary to achieve this.

“We also welcome the proposed partnership with Crown Estates mirroring Prospect calls for Crown Estate profits to be invested in a just transition.

“We’re confident government will work with unions like ours, to make sure training, planning and investment translates into good jobs and supports communities right across the country.”