Pledge
“Labour will create a new publicly-owned company, Great British Energy”
Our verdict
Legislation to create Great British Energy, under the ultimate responsibility of the Secretary of State for Energy Security and Net Zero, passed into law on 15 May 2025.
Labour’s pledge to establish a publicly-owned energy company, Great British Energy (GBE), was widely reported before the general election, after the party first announced the plan in 2022.
The pledge appeared in Labour’s manifesto in a section titled “Make Britain a clean energy superpower”. It said: “To drive forward investment in clean, home-grown energy production, Labour will create a new publicly-owned company, Great British Energy. It will be owned by the British people and deliver power back to the British people.”
The manifesto provided further details about the remit of GBE and the amount of capital it will receive. It also said “the company will create jobs and build supply chains in every corner of the UK”, and that it would be headquartered in Scotland.
Honesty in public debate matters
You can help us take action – and get our regular free email
We are now rating this pledge as “achieved”, after legislation to establish GBE passed into law on 15 May 2025.
The legislation designates GBE as a limited company and establishes its remit, which includes facilitating “the production, distribution, storage and supply of clean energy” and “the reduction of greenhouse gas emissions from energy produced from fossil fuels”.
The company was incorporated on 10 October 2024, and lists the Secretary of State for Energy Security and Net Zero as a person with significant control.
The legislation also enables the government to provide GBE with financial support and requires the Secretary of State to publish its annual report and accounts.
Its explanatory notes confirm it applies to all four UK nations, and came into force on the same day it was passed into law.
In a press release issued on 15 May 2025, the Department for Energy Security and Net Zero said GBE would “speed up the delivery of strategic energy projects and invest alongside the private sector to get new technologies like floating offshore wind up and running as part of the government’s modern Industrial Strategy”.
However, it added that further details on GBE’s “strategic priorities” will be outlined by the energy secretary “soon”, including “which technologies the government expects the company to focus on and how it should consider the public benefits from investment decisions”.
GBE is headquartered in Aberdeen, in line with another of Labour’s manifesto commitments.
As we develop this Government Tracker we’re keen to hear your feedback. We’ll be keeping the Tracker up to date and adding more pledges in the coming months.
Progress displayed publicly—so every single person in this country can judge our performance on actions, not words.
Sir Keir Starmer, Prime Minister – 24 September 2024