The Great British Energy Bill received legislative consent from all three devolved governments, the first Bill to under this parliament. This will allow Great British Energy to operate more effectively in every devolved nation and benefit people across the UK.
Supported by £8.3 billion over the course of the current parliament, Great British Energy aims to speed up the delivery of strategic energy projects, as well as investing alongside the private sector to get new technologies like floating offshore wind up and running as part of the government’s modern Industrial Strategy.
Great British Energy is investing £200 million in funding for new rooftop solar power and renewable energy schemes for schools, hospitals and communities, helping save hundreds of millions on energy bills. For example, in April NHS Humber Health Partnership was awarded nearly £8.5 million from this fund, which will deliver up to £14.2 million in lifetime bills savings.
Scotland’s community energy fund recently opened for applications, backed by £4 million from Great British Energy for local clean energy projects – from community-led onshore wind, to solar on rooftops and hydropower in rivers – generating profits which could be reinvested into community projects or take money off people’s bills.
Meanwhile people in Wales will benefit from nearly £3 million of Great British Energy funding for local renewable projects.
“Great British Energy comes from a simple idea: British people should own and benefit from our own natural resources” said Energy Secretary Ed Miliband. “We are giving people a stake in clean energy and delivering profits for the British people. As part of our Plan for Change, this will make us a clean energy superpower and help bring down energy bills for good.”
Great British Energy is also focussing on supply chains in Scotland, following the initial award of £300 million funding for offshore wind supply chains. This will help to support engineers, technicians, and welders and invest in offshore wind manufacturing components such as floating offshore platforms and cables in the UK’s industrial heartlands.
The Energy Secretary is expected to outline Great British Energy’s strategic priorities soon – including which technologies the government expects the company to focus on and how it should consider the public benefits from investment decisions.
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