Labour to create energy company must be good for National Grid ?27 Jun 2024 10:57
Included in the Labour manifesto is the creation of a energy Company
Reading the detail , reproduced below, sounds to me that they are gonna chuck £8.3 Billion of taxpayers money , a lot of which will have to pass through National Grid, to speed up electrification of UK.
Very good layer of bureaucracy for National Grid shareholders IMO 😀
An views welcome
To drive forward investment in clean, home-grown energy production, Labour will create a new publicly-owned company, Great British Energy. It will be owned by the British people and deliver power back to the British people.
Great British Energy will partner with industry and trade unions to deliver clean power by co-investing in leading technologies; will help support capital-intensive projects; and will deploy local energy production to benefit communities across the country. To support this, Labour will capitalise Great British Energy with £8.3 billion, over the next parliament.