The Great British Energy Bill is set for its second reading in the House of Commons tomorrow.
The Bill proposes the creation of Great British Energy, a publicly-owned but independently operated energy company.
The Bill outlines the company’s key objectives, including the production, distribution, storage and supply of clean energy, reducing greenhouse gas emissions and ensuring energy security.
It gives the Secretary of State authority to provide financial assistance to the new company, enabling it to begin operations and deliver benefits such as increased clean energy deployment, greater energy independence and job creation across the UK.
The Bill also requires the Secretary of State to prepare a statement of strategic priorities for Great British Energy, which will be presented to Parliament.
Yesterday, reports indicated that Aberdeen could be the location for the company’s headquarters; however, the government stated that no decision has been made about the location of GB Energy’s headquarters.
