London Daily

Focus on the big picture.
Thursday, Aug 06, 2026

Labour pledges to create publicly owned energy company to 'cut bills and create jobs'

Labour pledges to create publicly owned energy company to 'cut bills and create jobs'

Sir Keir Starmer pledged to set up a publicly owned clean energy company within the first year of a Labour government in his keynote speech at the annual party conference in Liverpool.

Sir Keir Starmer has announced that a Labour government will create Great British Energy - a new, publicly owned company that will generate renewable sources "to cut bills, create jobs and deliver energy independence".

The role of GB Energy will be to provide additional capacity alongside the private sector, to establish the UK as a clean energy superpower and guarantee long term energy security, the Labour leader said.

Many European, Asian, and American countries have public generating companies, like EDF in France.

Delivering a keynote speech at the party conference in Liverpool, Sir Keir said the largest onshore wind farm in Wales is owned by Sweden, so "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.

"Labour will set up Great British Energy within the first year of a Labour government. A new company that takes advantage of the opportunities in clean British power, because it's right for jobs, because it's right for growth, because it's right for energy independence."

Sir Keir Starmer kisses his wife Victoria after making his keynote address


Britain's own EDF


A Labour Party source told Sky News the hope is that GB Energy will "eventually be an EDF".

The announcement builds on Labour's commitment to make the UK a clean energy superpower by 2030 and create a National Wealth Fund to invest in British industry.

Sir Keir said 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".

He added: "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 road to net-zero is no longer one of stern, austere, self-denial. It's at the heart of modern, 21st century aspiration. Technology has turned everything on its head."

Tories 'have ripped out foundations of Britain'


The speech came after days of market uncertainty driven by Chancellor Kwasi Kwarteng's mini-budget - something Sir Keir said the public should "not forgive and not forget".

Sir Keir accused the Tories of crashing the pound and losing control of the economy "to give tax cuts to the rich".

"They used to lecture us about fixing the roof when the sun was shining," he said.

"But take a look around Britain, they haven't just failed to fix the roof, they've ripped out the foundations, smashed through the windows, and now they've blown the doors off for good measure."

Homes, Brexit, and Blair


In another policy announcement, Sir Keir said Labour wants to increase homeownership and will set a target of 70%, offering a new mortgage guarantee for first-time buyers to help more people get onto the housing ladder.

He also promised to make Brexit "work" - saying that is something voters won't get from the Tories or SNP.

His condemnation of the SNP was well-received by the audience.

"We can't work with them, we won't work with them, no deal under any circumstances," he said.

Sir Keir finished his speech by echoing former leader and prime minister Tony Blair.

He said Labour is "the party of the centre ground - once again the political wing of the British people".


How was the speech received?


Sir Keir won no fewer than 10 standing ovations during his confident and assured 50-minute speech.

Deputy leader Angela Rayner told Sky News' political editor Beth Rigby the speech showed how passionate he is, after suggestions from some quarters that he is boring and lacking in personality.

Ms Rayner was a supporter of former leader Jeremy Corbyn and has been generally seen as more to the left of the party than Sir Keir.

"I think he's exactly what we need in this country at the moment, someone who's got very clear ideas, very good ethics," she said.

Trade unions also praised the speech, with Frances O'Grady of the TUC calling it "inspirational" and UNSION saying a Labour government "can't come soon enough".

The speech was less well received by the SNP, who accused Labour of "turning into the Tories".

The Conservatives also hit back, saying there was nothing new in the speech "no matter how much he tries to emulate Tony Blair".

Newsletter

Related Articles

0:00
0:00
Close
UK Artificial Intelligence Regulation and Public Infrastructure Investment Remain Key Policy Focus Areas
Kemi Badenoch Faces Criticism Over Appointment of Former Neo-Nazi Linked Figure to Advisory Role
AG Barr Reports £10 Million Sales Loss After Supply Chain and Planning Failures
UK Government Fast-Tracks Specialist Care Pathways for Motor Neurone Disease Patients
UK Government Connects More Than 60,000 Rural Homes and Businesses to Gigabit Broadband
Next Raises Full-Year Profit Forecast After Strong Summer Sales
Metropolitan Police Arrest Woman After Four Men Stabbed in Central London’s Covent Garden Area
UK Procurement Reform and Infrastructure Spending Signal New Focus on Regional Economic Growth
UK Government Expands Global Talent Visa Access for International Researchers and Innovators
NHS Launches £343 Million Expansion of Community Mental Health Centres Across England
UK Treasury Explores Higher Borrowing Capacity for Infrastructure and Housing Investment
UK Cabinet Office Reforms Procurement Rules to Direct £90 Billion of Public Spending Toward Jobs and Skills
UK Government Considers Public Inquiry Into Jeffrey Epstein’s Activities and Possible Institutional Failures
Britain’s AI Safety Institute Finds Advanced Models Creating Fake Identities and Malicious Code During Tests
Lightning Strike Kills Yala FC Player During Match in Southern Thailand
Senate Scrutinises AI-Driven Personalised Pricing
Spain Seeks Mainland Transfers for 1,100 Children Stranded in Ceuta
UK Government Pushes New Procurement, Skills and Technology Policies Amid Economic Pressure
UK Charity Commission Investigates Donations Linked to Israeli Settlement Groups
UK Government Faces Pressure Over Possible Windfall Tax on Bank Profits
South East Water Provides Emergency Support After Kent Supply Disruptions
UK Defence Supports US Operation to Seize Russian-Flagged Oil Tanker in North Atlantic
Green Party Wins First Westminster By-Election Seat in Historic Gorton and Denton Victory
UK Farmers Face Rising Bluetongue Disease Cases Among Sheep Flocks
UK Government Warns Retailers and Fuel Suppliers Against Exploiting Price Pressures
Apple, AI Deepfakes and New UK Rules Highlight Growing Digital Regulation Challenges
UK Education Department Expands Fully Funded Apprenticeships for Under-25s
National Crime Agency and Spanish Police Arrest Scotland’s Most Wanted Fugitive in Madrid
UK Labour Government’s Devolution Plans Renew Debate Over Written Constitution
EY UK Forecasts Weak Growth in 2026 as Energy Risks Continue to Pressure Households
Apple Challenges UK Government Demand for Access to Encrypted iCloud Data
UK Government Considers Public Inquiry Into Jeffrey Epstein Network and Institutional Links
Cabinet Office Reforms UK Government Procurement Rules to Prioritize Local Jobs and Skills
UK Energy Security Faces Pressure From Middle East Conflict and Red Sea Disruptions
UK Government Expands Employment Discrimination Review Amid Labour Market Changes
UK Campaigners Call for Ban on Toxic Flea Treatments Linked to Water Pollution
MI6 Ranked Europe’s Leading Foreign Intelligence Service in Independent Review
Houthi Missile Attack on Saudi Oil Tanker Raises Further Red Sea Shipping Concerns
Palantir Faces UK Tax Criticism After Paying Two Million Pounds in Corporation Tax
Advanced AI Models Show Unexpected Behaviour During UK Cybersecurity Testing
Bank of England Introduces Tougher Artificial Intelligence Testing Rules for Financial Firms
Next Raises Annual Profit Forecast to One Point Two Four Billion Pounds After Strong Summer Sales
New UK Visa Rules Tighten Skilled Worker, Student and Family Migration Routes
UK Government Proposes New Equal Pay Enforcement Powers for Employers
UK High Court Blocks Home Office Deportation Policy for Alleged Trafficking Victims
UK Health Secretary Yvette Cooper Announces Major Reform of NHS Maternity Services
BP Reports Four-Year High Quarterly Profit of Five Point Seven Billion Dollars Amid Energy Market Turmoil
Bank of England Holds Interest Rate at Three Point Seven Five Percent as UK Growth Remains Weak
Spain and Morocco Trade Blame After 72,000 Migrants Enter Ceuta
Met Police Investigated Journalist Who Questioned Cambridge Professor
×