In a packed auditorium in Liverpool, Labour leader Keir Starmer stood at a plinth emblazoned with the words “A Fairer, Greener Future”. It was the key theme of this year’s party conference and is evident in Starmer’s landmark policy announcement: the creation of a new publicly-owned energy company, Great British Energy.
The company would effectively be a start-up to grow British renewables. So while Great British Energy is not nationalisation of the electricity sector (or of any one energy company), it would represent a new and different sort of organisation positioned to fund new projects while working to remove the hurdles faced by new wind and solar projects.
This follows calls from various organisations for a new way of generating and providing electricity. For many, the scale of action needed to both reach net zero and address energy poverty is incompatible with the current model of doing things, which focuses on paying shareholders and avoiding riskier investments.
