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Labour PartyTransport & economy

Create Great British Energy

“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.”

Delivering2024 manifesto, page 53, 13 Jun 2024
  5. Delivering

Where it stands

Great British Energy exists in law (Great British Energy Act 2025), is wholly owned by the Secretary of State for Energy Security and Net Zero and has started investing, including £255m in solar for schools, NHS and military sites in its first period to 31 March 2026. The manifesto's £8.3bn runs over the Parliament, and the government now counts that sum across both Great British Energy and Great British Energy–Nuclear, so the card sits at Delivering.

What has happened

  1. Jun 2024Labour manifesto pledges a new publicly owned company, Great British Energy, Promised
  2. Oct 2024Autumn Budget 2024 confirms £125m for Great British Energy in 2025-26, with its headquarters in Aberdeen, Funded evidence
  3. May 2025Great British Energy Act 2025 receives Royal Assent, Legislated evidence
  4. May 2025Great British Energy Group Limited is designated as Great British Energy under the Act, with effect from 21 May 2025, Delivering evidence
  5. Jun 2025Spending Review 2025 says Great British Energy and Great British Energy–Nuclear will together invest more than £8.3bn over the Parliament, Funded evidence
  6. Sep 2026First annual report: £255m invested (via DESNZ) in solar for 250 schools, 260 NHS sites and military sites in the period to 31 March 2026, Delivering evidence
  7. Jul 2029End of the Parliament, when the £8.3bn capitalisation period ends (editorial date), Deadline

About the cost

Year used: an average year of the Parliament, as Labour's costings give an annual average (£1.7bn, manifesto page 128) of the £8.3bn capitalisation promised on page 53; central figure only. Later official figures: Spending Review 2025 says Great British Energy and Great British Energy–Nuclear together will invest more than £8.3bn over the Parliament, and the company's 2025-26 annual report says up to £5.3bn is expected to be made available to it from 2025/26 to 2029/30. Autumn Budget 2024 gave £125m for 2025-26. Low–high is an editorial ±10% because the source gives a central figure only.

Contracts behind delivery

Public contracts an editor linked to this promise. Figures come from the contract notices and are read again every night; a change adds a new entry and never rewrites an old one.

10 contracts, £968,370 in all at their latest values; 1 awarded without competition.

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More detail

Sources (5)
Corrections (1): what we fixed, in public
  1. Corrected on 6 Oct 2026: Date of the “Delivering” entryThe annual report was published on 14 September 2026. 30 September 2026 is a later update to the web version, not the publication date.Was: 30 Sep 2026Now: 14 Sep 2026Source for the correction
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