Legislation establishing Great British Energy, a publicly owned energy company aimed at accelerating clean power investment and supporting energy security, has received Royal Assent, the UK government said on Wednesday.
The Great British Energy Bill passed through Parliament and gained legislative consent from all three devolved governments—Scotland, Wales, and Northern Ireland—marking the first Bill under the current Parliament to achieve such agreement.
The company, backed by £8.3 billion in public funding over the course of this Parliament, is expected to co-invest with the private sector in technologies such as floating offshore wind, rooftop solar, onshore wind, and other renewable energy sources.
“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.”
The government said the nationwide consent enables Great British Energy to operate more effectively across the UK and deliver benefits to communities in all regions.
The company has already launched a £200 million solar programme for installations on schools, hospitals and community buildings. In Hull, the NHS Humber Health Partnership received £8.5 million to install solar infrastructure, with the government estimating lifetime bill savings of £14.2 million.
A separate £4 million community energy fund has been opened in Scotland to support local renewable initiatives, including small-scale hydro and rooftop solar, while nearly £3 million has been allocated to similar projects in Wales.
Great British Energy Chair Juergen Maier said the legislative milestone provides a foundation for the company to scale up operations and attract further investment.
“We now have full backing to scale up the company, crowd in investment, and back clean energy projects across the country,” Maier said.
The company will soon host a roundtable in Edinburgh focused on developing the offshore wind supply chain. This follows a £300 million initial investment into domestic manufacturing of floating wind platforms and transmission cables.
Strategic priorities for Great British Energy, including technology focus areas and guidance on delivering public benefit, will be outlined by the government in the coming weeks.
