The UK Authorities can safe the way forward for Nice British Power (GBE) by providing cut-price energy and key supplies for the UK’s clear vitality provide chains, in response to a brand new report from Stonehaven, commissioned by Mission Tempo. Sitting as a central suggestion is how GBE can go additional when working to put money into home clear vitality provide chains, boosting vitality safety and creating expert jobs.
Via bespoke Energy Buy Agreements (or PPAs) with industries comparable to clear metal and ahead procurement of crucial grid elements, Stonehaven argues that GBE can turbocharge a brand new vitality and industrial revolution whereas sustaining enduring political assist past 2030.
Titled “A New Energy and Industrial Revolution: Making GB Energy a Success”the report presents an evaluation of the Authorities’s method to GBE, emphasising the danger of “overpromising and underdelivering”. The research gives the Authorities with messaging and coverage suggestions to make sure GBE’s success over the following 5 years, with a concentrate on managing public expectations and pursuing life like objectives.
There may be sturdy public backing for GBE, with polling information throughout the report displaying 58% of individuals in favour and solely 11% opposed. Though the discount of vitality payments is a crucial part of this assist, broader advantages comparable to boosting vitality safety and home clear energy provide chains are seen as key. Consequently, the report urges the Authorities to speak a broader spectrum of GBE’s advantages to handle public expectations successfully.
The report recommends that the Authorities shouldn’t promise voters a right away discount in vitality payments. As an alternative, it advocates for a nuanced method, acknowledging that whereas GBE might decrease payments in the long term, important impacts on vitality prices are much less probably throughout the present parliamentary time period.
The report goes additional to offer different coverage suggestions that may develop upon GBE’s proposed features, guaranteeing that its actions ship on Authorities messaging whereas contributing to the 2030 clear energy objective.
Alongside constructing home clear vitality provide chains, one other key suggestion is for GBE to take a position and take majority possession in established applied sciences like wind and solar energy. These sectors, confirmed at scale, more cost effective than fossil fuels and extra nascent clear applied sciences, provide a chance to retain earnings throughout the UK, present a transparent sign of GBE’s progress, and create low cost energy to assist Britain’s industrial base.
Adam Bell, Director of Coverage at Stonehaven, emphasised the advantages of lowering industrial vitality prices:
“Britain stands on the brink of an energy and industrial revolution. The Government’s mission to achieve a clean power system by 2030 is ambitious yet obtainable, but it requires public support and political legitimacy. GBE is central to this revolution; however, it must be framed not just as a means to reduce bills, but as a vehicle for delivering a broader range of economic benefits including industrial security and skilled jobs. Britain’s industrial energy costs are some of the highest among peer countries, putting investment at risk. Great British Energy would do well to change that.”
Pandora Lefroy, CEO of Mission Tempo, highlighted the fragile stability required to keep up GBE’s success:
“Great British Energy has a pivotal role to play in transforming the UK’s energy landscape. It has the potential to sit central to a new energy and industrial revolution. But managing expectations around short-term achievements while championing the long-term benefits is going to be essential. The Government must balance its goals for clean power with realistic expectations for GBE’s initial term. This balanced approach will foster the necessary public trust and support, allowing GBE to evolve into a lasting force for good for UK industry and energy sectors.”
