The government has officially launched Great British Energy, the publicly owned energy company that will be key to meeting the 2030 net zero grid target.
According to GB Energy’s founding statement, the company will work independently but with government guidance, partnering with the private sector to ensure success.
A plan will be created to define how the government and Great British Energy will work together.
In the coming months, the government will set up headquarters in Scotland, hire key staff and talk to stakeholders to refine policies.
Local Power Plan
Local power is a key part of the government’s energy strategy, involving communities in clean energy projects and reducing grid pressure.
Great British Energy will support the Local Power Plan, aiming to roll out up to 8GW of renewable energy through small and medium projects, encouraging local ownership and private partnerships.
The Local Power Plan is expected to attract investment and create jobs, benefiting local communities.
It will also support local authorities and community groups to ensure successful projects.
Structure of Great British Energy
Great British Energy will be an independent company, owned by the Secretary of State for Energy Security and Net Zero.
It will be led by a Chief Executive Officer and overseen by an independent board, including trade union representatives.
The company will have clear goals and flexible governance, aiming for financial sustainability and reinvestment into new projects.
