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Labour sets out plan to “rewire Britain” and build the clean energy grid the country needs, unlocking £200bn of private investment
The next Labour government will make it easier, cheaper and quicker to build in Britain, with a new plan to build the infrastructure Britain needs to grow the economy, cut bills, boost energy security, and unlock over £200bn of investment into communities across the country.
As part of Labour’s mission to make Britain a clean energy superpower, Labour has today set out a comprehensive plan to rewire Britain, engaging in the largest upgrade to our national clean energy infrastructure in a generation.
Building a clean energy grid is essential if the UK wants to cut energy bills, deliver energy independence, and grow our economy. Yet under the Tories, the grid has become the single greatest obstacle to the deployment of cheap, clean power generation, and electrifying industry alike – and is keeping households stuck on expensive, insecure, imported gas rather than cheap, clean, homegrown energy.
As businesses seek to move ahead in the industries of the future, the queue for grid connections is growing out of control, with more than £200bn worth of privately-funded projects now stuck. New grid connection dates are now being offered for 15 years’ time, in the late 2030s.
Labour will remove the barriers to facilitate the largest upgrade to national transmission infrastructure in a generation, bringing cheaper, cleaner power, energy security, and jobs to every corner of the country.
Every household and business in Britain will feel the benefit of this plan, which will contribute to Labour’s plan to cut £93bn from UK energy bills by 2030.
By unlocking long overdue barriers to investment, Labour’s plan will unlock £200bn of private investment, and will support over 220,000 jobs each year between 2024-2035 across the country. British businesses such as the steel industry, new electric car battery factories, ceramics manufacturers, and other forms of energy intensive industries will benefit significantly, ending delays to infrastructure upgrades.
The plan will also end the farcical situation in which taxpayer’s have often had to pay up to a staggering £62m per day (ONS) to renewable developers simply to turn off their energy generation, because the grid cannot deal with the capacity.
Labour’s plan will put GB Energy, Labour’s new publicly-owned energy company, to work in coordinating the transmission operators to launch a super-tender which will procure the grid supply chain that Britain needs. This will ensure we are at the front of a global queue, that we cut costs for billpayers, and that we provide a clear demand signal to manufacturers to build up their supply chains here in Britain, creating jobs.
On top of that, to deliver the investment, capacity, skills, and urgency to build the grid we need, Labour will open up new grid construction to competitive tendering, with GB Energy looking to bid into that competition to build or co-build that new grid where necessary.
Rachel Reeves MP, Shadow Chancellor of the Exchequer, said:
“Talk to any business and they will tell you that the queue for grid connections is growing out of control, with more than £200bn worth of privately-funded projects now stuck.
“Labour will turbocharge our growth, get Britain building and unlock private sector investment by speeding up the grid.
“This will help cut family energy bills, allow businesses to invest and strengthen our energy security from foreign dictators.”
Ed Miliband MP, Shadow Energy Security and Net Zero Secretary, said:
“Labour’s energy policy will take back control of our energy system to deliver clean power and energy independence for Britain.
“With GB Energy, our publicly owned energy company, we will deliver the grid we need to slash bills for every family and business.
“The Conservatives are the party of stagnation and delay. Only Labour has a plan to make working people better off – and to give Britain its future back.”
ENDS
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