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A new report by consultancy Stonehaven has set out key recommendations to help the UK Government secure the success of Great British Energy (GBE).
Commissioned by Project Tempo, the report, titled A New Energy and Industrial Revolution: Making GB Energy a Success, suggests ways the government can guide GBE to support energy security, economic growth and job creation while managing public expectations.
The report advises the government to avoid promising immediate reductions in household energy bills.
While GBE may help to lower costs in the long run, Stonehaven suggests that significant changes in energy prices are unlikely within the current parliamentary term.
Instead, it recommends a focus on the broader, long-term benefits of GBE, including boosting energy security, creating skilled jobs, and building a reliable clean energy infrastructure within the UK.
By setting realistic expectations, the Government could build lasting public trust in GBE as it works toward its clean energy goals.
One of the report’s main recommendations is for GBE to invest in strengthening UK-based supply chains for clean energy.
By reducing dependency on imported materials and creating partnerships with industries like clean steel, GBE could help make the UK more self-reliant in energy production.
These domestic investments, the report argues, would not only support GBE’s long-term plans but also create thousands of skilled jobs, bolstering the UK economy and establishing the nation as a leader in clean energy.
The report also suggests that GBE consider offering bespoke Power Purchase Agreements, or PPAs, to support key industries.
These agreements could provide stable and affordable energy for energy-intensive sectors such as clean steel production, helping companies transition to sustainable practices.
Another key proposal is for GBE to invest in proven renewable technologies such as wind and solar power, where it could take majority ownership.
The report points out that these technologies are not only more affordable than fossil fuels but have been tested on a large scale, making them ideal for helping the UK reach its clean energy goals.
Stonehaven suggests that this approach could also provide visible signs of progress and help reduce reliance on imported fossil fuels.
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