Britain has paid a heavy price for 14 years of Tory failure and inaction on energy security. Families and businesses across the UK have faced a far worse cost-of-living crisis than other comparable countries because they left us exposed to the international fossil fuel markets that have long been controlled by dictators like Vladimir Putin.

Tory failure to invest in clean energy has left a legacy of high energy bills, energy insecurity and a lack of clean energy jobs.

This UK Labour Government’s plans to establish Great British Energy will transform our energy market in the UK, delivering clean power by 2030 and creating the jobs of the future. The company will be owned by the British people, backed by £8.3 billion of new money during this Parliament to own and invest in clean power projects across the UK. It’s core focus will be to drive up clean energy deployment to create new jobs, boost our energy independence and ensure that taxpayers and local communities reap the benefits of clean, secure, homegrown energy.

In July, the Prime Minister, Keir Starmer announced the first  partnership between Great British Energy and the Crown Estate, which will unleash billions of investment in clean power. This partnership represents a vital first step in delivering on the Government’s mission to make Britain a clean energy superpower.

This new UK Labour Government has already taken rapid action to deliver on our clean power mission, securing a record-breaking 131 new renewable projects which is enough to power 11 million more homes. This includes 7 new energy projects that will generate 157 megawatts of homegrown, cheap and clean energy for households and businesses across Wales.

Labour promised change and we are determined to deliver it and make people in every corner of Wales and Britain better off.