What is the UK's new publicly owned Great British Energy firm?

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Published 2024-07-25
Sir Keir Starmer says he's confident that household energy bills will come down, although he admitted it would "take time" - as he gave more details of the Government's new publicly owned Great British Energy firm.

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Sir Keir set out plans to roll out new offshore wind farm developments on seabed owned by the Royal family, in partnership with the Crown Estate.
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All Comments (21)
  • @mike.B.1
    Natural resources belong to everyone. Not just to few private companies
  • @IlfordRules16
    We need to seriously nationalise a lot of industries in the UK to assure our Britishness
  • @loading418
    A state-owned company will not betray u like a company run by overseas owners. That's how I learned from Thames Water which sells to an overseas owner. Can the UKer have clean and safe water is never their priority. Some critical infrastructures e.g. water/power must be controlled by a UK company or UK gov. U will never know who will start a war with you tmr and look for windfall during wartime. I still remember petrol stations are empty as the imported supply cannot catchup.
  • @JT-nr2ss
    9:40 no lies were told. God it's so nice to see an actually sensible person in charge of something so important
  • @Loppy2345
    £8 billion investment is still less than the £10 billion that the Tories were planning to waste on the Rwanda scheme, and this is going to generate returns for taxpayers. We cannot let the Tories back in charge otherwise they will sell it off just like they sold our water companies and railways and destroyed those industries.
  • This is excellent news. Finally a government that cares about UK becoming energy independent. If the tories bothered to invest into renewables 14 years ago, we'd hardly notice a cost of living crisis.
  • Bringing ownership of utilities back into public ownership is something Ive wanted for decades.
  • @mikecohen2400
    There is nothing wrong with running solar in pasture land, raise the panel supports high enough off the ground so that the animals can graze under them. The real key to large scale solar is battery storage, they go hand in hand, the batteries can soak up excess energy and release it into the grid when needed.
  • The same policy in Australia is failing and they have better resources…?
  • @marcoose777
    Solar isn't a gimme in the UK, why not back the energy sources that the UK has in abundance: wind and tidal
  • @Andrew-rc3vh
    You need both solar and wind for a balance of supply, but solar became the cheapest form of energy about two years or so ago. The wind and solar are both dropping in price, but solar is falling at a faster rate. We must sort out the grid though because it is holding up a huge amount of investment.
  • @neilsmith154
    Basically £8b out of £68b. So private funding. Not coming without a return.
  • We need UK battery Storage, the UK has enough natural and fossil resources to be independent, we go from needing energy to france to be exporter of Europe in 24 hours
  • As a cooperative investor in a Ripple Energy wind farm I am now getting 4200 kWh of electricity at a discounted rate via octopus energy for next 25 years. This will hopefully encourage more investments of this type. I also generate 4200 kWh of electricity per annum from roof top solar which saves significantly and further reduces cost via export payments. This needs to be encouraged by the government to reduce dependancy in fossil fuels. Labour are in the right track.
  • @Limeyfrog
    I live in France and there are vast solar fields in the countryside - land that is not good for growing wheat or corn. The return on solar can be better than growing trees. What would you do?
  • @Cal97g
    He wouldn't be too pleased if we nationalised his solar farm.
  • @synthmaker
    Finally. This has been bothering me for many years, renewable is the cheapest energy but the consumer hasn't seen the benefits so far because the cost is pinned to the cost of natural gas, it's the energy generating companies that make all the profits, this is due to some silly system introduced by Thatcher when the cost of renewable was extremely high. We need to detach the cost of our electricity from natural gas, make it the real price and energy price for the consumer will drop. I have never related to labour policies but I must admit I'm really liking this and also the fact that they have such a high majority that this can't be stopped with big oil influence. Reducing dependency on oil is also good for taking away the power from crazy imperialistic and lacking human rights oil producing countries. Will contribute to the reduction in wars, what's not to like? it's a win win win. I'm now just hoping there wont be any emotional personal insulting replies to my comment, this is my opinion please accept it, if you disagree please try to support your argument in some way based on reality.
  • Well knocking off a percentage point from the interest rates would be a huge help? Wind is just the new water, it won't be any cheaper to buy.