Brief
UK Prime Minister Andy Burnham to launch publicly owned Great British Grid at Labour conference
The proposal will see the new company compete with existing grid owners and be funded from the GB Energy budget.
By Felo News Desk · Published
UK Prime Minister Andy Burnham is expected to announce a new publicly owned company, Great British Grid, during his Labour conference speech in Liverpool on Tuesday, according to the BBC.
The body will invest in and compete for transmission connection projects alongside the three private firms that currently run the grid. Labour says the company will also help firms finance their own connection infrastructure and aim to speed up grid hook‑ups to ease the "cost crisis" affecting businesses.
Funding for Great British Grid is said to come from the existing budget of GB Energy, the public green investment company created by Labour last year and based in Aberdeen.
Key facts
- Andy Burnham will announce the creation of Great British Grid at the Labour conference in Liverpool. (bbc.co.uk)
- Great British Grid will be a publicly owned company that invests in and competes for electricity transmission connection projects. (bbc.co.uk)
- The new body will be funded from the existing budget of GB Energy, Labour’s public green investment company. (bbc.co.uk)
- Burnham says faster grid connections could help address the energy cost crisis for businesses. (bbc.co.uk)
Sources
- [1] bbc.co.uk — originally reported as “Andy Burnham to unveil public body to invest in electricity grid”
