Labour vows to upgrade energy infrastructure if elected

The Labour party has announced plans to upgrade the UK’s energy infrastructure if elected. The proposals aim to facilitate investment in clean energy and improve connectivity to the grid.

In a statement, Labour said the plans would unlock over £200 billion in private sector investment for new energy projects across the UK and will create 220,000 jobs per year between 2024-2035.

The proposals involve new public tendering processes overseen by Labour’s proposed public energy company, GB Energy, to coordinate grid supply chain manufacturing and construction. British industries like steel production, electric vehicle battery factories, ceramics manufacturers and other energy-intensive sectors could benefit from reduced delays in infrastructure upgrades.

The party also wants to address delays in grid connectivity for new renewable energy projects. They stated wait times for connections are currently up to 15 years in some cases. It sees upgrading infrastructure as a way to allow more low-carbon energy to be used across the UK, contributing to its target of cutting £93 billion from energy bills by 2030.

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.”

 

Image credit: Photo by Vivek Kumar on Unsplash