Switch on Great British Energy
It’s time for change.
Millions of working people are still suffering from sky-rocketing energy bills – nearly doubling for the average family in recent years.
And people have been hit harder in Britain than other countries, because, thanks to the Tories, Britain’s energy supply is not in British hands and this country is exposed. We’re dangerously dependent on importing oil and gas from unstable international markets.
That means we don’t control our own destiny. When there’s instability abroad, prices shoot up here at home. Look at what’s happened in the last year. As Putin’s war in Ukraine ramped up, so did the price of gas.
The results have been devastating for the finances of ordinary families, whilst oil and gas giants have made record profits.
We need to take control of our energy system.
The solution is clean, homegrown power that we can produce and control at home in Britain – that is the only way to cut energy bills once and for all and make us energy independent.
The Tories have failed.
The Tories have left Britain dangerously exposed and working people have paid the price in higher bills.
During the worst cost of living crisis in a generation, they have sided with the big oil and gas companies making record profits rather than hardworking families. Even now they still refuse to implement a proper windfall tax on the oil and gas giants.
Over 14 years, the Tories have squandered Britain’s advantage in clean energy. They banned onshore wind and energy bills went up. They cut energy efficiency and bills went up again. They have failed to complete any nuclear power stations. Recently, they failed to get private investors to support offshore wind, the crown jewels of British energy and as a result bills will stay up for years to come. They have failed to generate the high paid clean power jobs of the future.
And because they have held Britain back in the race for clean power, jobs, investment and supply chains have gone overseas. Because of their ideology, they refuse to invest in homegrown energy resources for our country, but instead let state-owned companies of other countries do so. Foreign governments own nearly half of our offshore wind, meaning the wealth and jobs created by Britain’s energy resources go abroad rather than staying here at home.
The risk of five more years of the Conservatives is permanently high energy bills with jobs and wealth shipped overseas. We can’t afford to go on like this.
Watch Labour’s Clean Energy Mission:
Labour has changed.
Labour is back serving working people and that means a recognition that when there is economic chaos, it is working people that pay the heaviest price. And that is unacceptable. So economic stability is our first duty.
That is why everything we put in our manifesto will be fully costed and fully funded. We have worked up our plans in partnership with business with the purpose of kick-starting growth everywhere and making working people in all parts of the country better off.
Labour will build a genuine partnership with business and civil society – sleeves rolled-up, working for the national interest. A strategic partnership that builds a bridge from the jobs we must protect today to the opportunities we have to win tomorrow.
Labour has a long term plan for clean energy
Britain has the potential to be a clean energy superpower. We have huge advantages: our entrepreneurs, our coastline, our scientists and our workforce. But, to get cheaper bills, better jobs and energy independence requires leadership, investment, and a plan.
A proper windfall tax on oil and gas companies. We have fought for a proper windfall tax on the excess profits of oil and gas companies, so we can support families with the cost of living.
Great British Energy. We will create a new publicly owned champion – Great British Energy, to give us real energy independence from foreign dictators. It will be owned by the British people, built by the British people and benefit the British people. It will invest in clean energy across our country- for example by making the UK a world leader in floating offshore wind.
National Wealth Fund. Alongside GB Energy will be a new National Wealth Fund that will invest in the jobs that can rebuild Britain’s industrial strength, and crowd in private investment in our ports, gigafactories, hydrogen, and protect our steel industry.
Key to the success of our plans is upgrading the national grid so that we have the infrastructure we need to move forward.
This is a once in a generation chance for Britain to lead again on the global stage, forging a Clean Power Alliance with like-minded countries – to seize the opportunities of clean energy, tackle climate change and provide lasting benefits to the country and the generations to come.
Warmer Homes. Labour would upgrade Britain’s cold, draughty homes, cutting bills and creating thousands of good jobs for electricians, engineers, and construction workers across the country.
Clean Power by 2030. A Labour government would:
- Pioneer floating offshore wind, by fast-tracking at least 5 GW of capacity.
- More than double our onshore wind capacity to 35 GW.
- More than triple solar power to 50 GW.
- Quadruple offshore wind with an ambition of 55 GW by 2030.
- Get new nuclear projects at Hinkley and Sizewell over the line, extending the lifetime of existing plants, and backing new nuclear including Small Modular Reactors.
- Double the government’s target on green hydrogen, with 10 GW of production for use particularly in flexible power generation, storage, and industries like green steel.
What Labour’s long term clean energy plan means for you.
- Energy bills cut once and for all, taking hundreds of pounds off annual household energy bills for families and businesses.
- Rebuilding Britain’s industrial strength, with good jobs in every part of the country -500,000 new jobs in our industrial heartlands and coastal communities.
- Stronger national security and energy independence by using our abundant natural resources so that we can control our destiny.
- Cleaner rivers and seas. Automatic and severe fines for water companies that harm the environment and pollute our rivers and new powers to the regulator to block bonuses until water bosses have cleaned up the filth.
Let’s turn the page on Tory failure.
- Rising energy bills.
- An energy system dangerously exposed to Putin.
- Other countries owning our British energy resources.
- A government that refuses to seize the opportunities of clean power.
- Banning on shore wind.
- Families having to waste money on cold, drafty homes.
- Letting the EU, USA, and China get a three year head start in the race for the jobs and investment of the future – leaving Britain trailing behind with higher bills and undermining our energy security.
- Sewage in our rivers and coastline.