Keir Starmer talking with factory workers

Switch on Great British Energy

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.

As a first step for change, Labour will set up Great British Energy, a publicly-owned clean power company, to cut bills for good and boost energy security, paid for by a windfall tax on oil and gas giants.

Headquartered in Scotland, Great British Energy will ensure jobs and supply chains are built here in the UK, developing our clean energy industries.  

Labour’s plan will lower bills because renewables are far cheaper than gas. 

Great British Energy is part of Labour’s Green Prosperity Plan to create 650,000 good jobs, cut bills by £300 on average and deliver real energy security. 

A red and white graphic with text reading: Labour's first steps for change 1. Deliver economic stability 2. Cut NHS waiting times 3.Launch a new Border Security Command 4. Set up Great British Energy 5. Crack down on antisocial behaviour 6. Recruit 6,500 new teachers

What Labour’s long term Green Prosperity 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.

Labour has a long term Green Prosperity Plan

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.

Labour’s Green Prosperity Plan is the party’s landmark plan to grow the UK economy, cut energy bills once and for all, and make Britain energy independent. This historic investment in working people and their communities is the only way out of the high energy bills, energy insecurity, and the doom-loop of low growth, high taxes and crumbling public services under Rishi Sunak’s Conservatives.

Labour’s Green Prosperity Plan includes:

A proper windfall tax on oil and gas companies. It starts by tackling the cost of living crisis. That’s why 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 Great British 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.