A Labour government would establish a new publicly-owned energy generation company in Scotland, Keir Starmer announced on Monday. Fine, if expertise and jobs from the North Sea industry are to be transferred over time, Scotland is a logical place to put it. But the location is only a minor piece of the decision-making. Two more important questions about “Great British Energy” are these: how much money will it have to invest? And which investments would it prioritise?
There is – as yet – no hint of an answer to the first question, perhaps understandably if a general election is still more than a year away. But note that many outsiders think GBE would need an annual investment budget of £5bn-£10bn to make a meaningful difference to the pace of energy transition. Clarity can’t wait for ever.
