London Daily

Focus on the big picture.
Saturday, Jun 21, 2025

Keir Starmer speech: Labour plans publicly owned renewable energy giant

Keir Starmer speech: Labour plans publicly owned renewable energy giant

Sir Keir Starmer has announced plans to create a publicly owned renewable energy company if Labour wins the next general election.

Great British Energy would be modelled on France's EDF and other firms owned by foreign states operating in the UK.

It would aim to ensure a massive expansion in clean energy planned by Labour will deliver British jobs and greater energy security.

The Labour leader unveiled the plan to applause in his conference speech.

Great British Energy would be set up with public money but would be independently operated and any profits would be reinvested, Labour sources say.

It would be able to build new wind, wave and solar projects - but also invest in privately-owned renewable schemes.

It would start out as a small scale generator, and build up market share as it invests in new projects, the party says. Labour sources say they see no reason why the company could not eventually grow to establish itself as "a significant, credible generator in a competitive market".

The planned new company would not be able to guarantee every job created in the push for clean energy is British.

But Labour hopes it will act as a "national champion" to rival firms like French-owned EDF, which employs more than 10,000 people in the UK.

"Labour will make sure that the public money we spend building up British industry spurs on private investment, stimulates growth … and the British people enjoy the returns," said Sir Keir in his conference speech.

"Labour won't make the mistake the Tories made with North Sea oil and gas back in the 1980s. Where they frittered away the wealth from our national resources."

The largest onshore wind farm in Wales is owned by Sweden, meaning "energy bills in Swansea are paying for schools and hospitals in Stockholm," he added.


"The Chinese Communist Party has a stake in our nuclear industry. And five million people in Britain pay their bills to an energy company owned by France."

The start-up money for the company would come from a new Sovereign Wealth Fund announced by shadow chancellor Rachel Reeves on Monday.

Sir Keir has resisted calls from trade unions and many on the left of his party to nationalise the energy industry to help keep soaring bills down, arguing instead for an extension of the windfall tax on their profits.

He has already announced plans to make the UK the first major economy to generate all of its electricity without fossil fuels.

He says this can be achieved by 2030 - five years earlier than being planned by the government.

"The road to net-zero is no longer one of stern, austere, self-denial," he said in his speech.

"It's at the heart of modern, 21st century aspiration. Technology has turned everything on its head. Green and growth don't just go together - they're inseparable.

"The future wealth of this country is in our air, in our seas, and in our skies. Britain should harness that wealth and share it with all."

Newsletter

Related Articles

0:00
0:00
Close
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
Trump Organization Launches 5G Mobile Network and Golden Handset
Towcester Hosts 2025 English Greyhound Derby Amid Industry Scrutiny
Gary Oldman and David Beckham Knighted in King's Birthday Honours
Over 30,000 Lightning Strikes Recorded Across UK During Overnight Storms
Princess of Wales Returns to Public Duties at Trooping the Colour
Red Arrows Use Sustainable Fuel in Historic Trooping the Colour Flypast
Former Welsh First Minister Addresses Unionist Concerns Over Irish Language
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
France Bars Israeli Arms Companies from Paris Defense Expo
King Charles Leads Tribute to Air India Crash Victims at Trooping the Colour
Jack Pitchford Embarks on 200-Mile Walk to Support Stem Cell Charity
Surrey Hikers Take on Challenge of Climbing 11 Peaks in a Single Day
UK Deploys RAF Jets to Middle East Amid Israel-Iran Tensions
Two Skydivers Die in 'Tragic Accident' at Devon Airfield
Sainsbury's and Morrisons Accused of Displaying Prohibited Tobacco Ads
UK Launches National Inquiry into Grooming Gangs
Families Seek Closure After Air India Crash
Gold Emerges as Global Safe Haven Amid Uncertainty
Trump Reports $57 Million Earnings from Crypto Venture
Trump's Military Parade Sparks Concerns Over Authoritarianism
×