# 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.” > > — Labour Party; 2024 manifesto, page 53, 13 June 2024 - **Status:** Delivering - **Status ladder:** Promised → In plan → Legislated → Funded → Delivering → Delivered - **Policy area:** [Transport & economy](https://ledgergov.uk/promises/area/transport-and-economy) - **Speaker:** [Labour Party](https://ledgergov.uk/actor/labour) - **Made on:** 13 June 2024 - **Where:** 2024 manifesto, page 53 - **Deadline:** 1 July 2029 - **Cost a year:** Costs £1.5bn to £1.9bn a year (central £1.7bn) - **Who it affects:** Energy billpayers and communities across the UK; taxpayers provide the company's capital - **When:** Company set up in this Parliament; £8.3bn capitalisation over the Parliament (taken as to 1 July 2029) - **Paid for by:** A windfall tax on oil and gas giants (manifesto page 10); the wider Green Prosperity Plan is funded in part by a time-limited windfall tax on oil and gas giants and the rest by borrowing to invest within the fiscal rules (page 128) - **Quote source:** https://labour.org.uk/wp-content/uploads/2024/06/Labour-Party-manifesto-2024.pdf#page=53 (checked word for word on 6 October 2026; Quoted for reporting; rights stay with the publisher) - **Last updated:** 6 October 2026 - **Card:** https://ledgergov.uk/promise/uk-great-british-energy-2024 ## 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. ## Timeline - 13 June 2024, Promised: Labour manifesto pledges a new publicly owned company, Great British Energy - 30 October 2024, Funded: Autumn Budget 2024 confirms £125m for Great British Energy in 2025-26, with its headquarters in Aberdeen ([evidence](https://assets.publishing.service.gov.uk/media/672b9695fbd69e1861921c63/Autumn_Budget_2024_Accessible.pdf)) - 15 May 2025, Legislated: Great British Energy Act 2025 receives Royal Assent ([evidence](https://www.legislation.gov.uk/ukpga/2025/16)) - 21 May 2025, Delivering: Great British Energy Group Limited is designated as Great British Energy under the Act, with effect from 21 May 2025 ([evidence](https://assets.publishing.service.gov.uk/media/682b504a8999f671f3c2443a/GBE-designation-letter.pdf)) - 11 June 2025, Funded: Spending Review 2025 says Great British Energy and Great British Energy–Nuclear will together invest more than £8.3bn over the Parliament ([evidence](https://assets.publishing.service.gov.uk/media/68627094354985706f111adc/E03349913_HMT_Spending_Review_June_2025_TEXT_CS_Accessible__002_.pdf)) - 14 September 2026, Delivering: First annual report: £255m invested (via DESNZ) in solar for 250 schools, 260 NHS sites and military sites in the period to 31 March 2026 ([evidence](https://www.gov.uk/government/publications/great-british-energy-annual-report-and-accounts-2025-to-2026/gbe-annual-report-and-accounts-2025-to-2026-html)) - 1 July 2029, Deadline (to come): End of the Parliament, when the £8.3bn capitalisation period ends (editorial date) ## 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. Costing sources: - [Labour Party: Change, 2024 manifesto (PDF), Green Prosperity Plan costings, page 128](https://labour.org.uk/wp-content/uploads/2024/06/Labour-Party-manifesto-2024.pdf#page=128) - [HM Treasury: Spending Review 2025](https://assets.publishing.service.gov.uk/media/68627094354985706f111adc/E03349913_HMT_Spending_Review_June_2025_TEXT_CS_Accessible__002_.pdf) - [Great British Energy: Annual report and accounts 2025 to 2026](https://www.gov.uk/government/publications/great-british-energy-annual-report-and-accounts-2025-to-2026/gbe-annual-report-and-accounts-2025-to-2026-html) ## Contracts behind delivery 10 public contracts linked by an editor, £968,370 in all at their latest values; 1 awarded without competition. Figures come from the contract notices (Open Government Licence v3.0). - Photo Voltaic Solar Panels: South Western Ambulance Service NHS Foundation Trust to Bright Spark Energy Solutions Limited, £117,502, awarded 3 October 2025, ends 31 March 2026 ([notice](https://www.find-tender.service.gov.uk/Notice/063921-2025)) - COV - GBESP Moseley Primary PV, Battery & EVC: Coventry City Council to Eenergy Services UK Limited, £179,000, awarded 16 February 2026, ends 28 February 2027 ([notice](https://www.find-tender.service.gov.uk/Notice/013965-2026)) - CWC25196b - Great British Energy Solar Partnership: Rakegate Solar PVs: Wolverhampton City Council to eEnergy Services UK Limited, £233,332, awarded 15 February 2026, ends 12 April 2026 ([notice](https://www.contractsfinder.service.gov.uk/Notice/94b3db54-d5f2-4525-9213-ca0ee1b542de)) - CWC25196a - Great British Energy Solar Partnership: Rakegate LED Lighting: Wolverhampton City Council to eEnergy Services UK Limited, £45,552, awarded 11 January 2026, ends 30 January 2026 ([notice](https://www.contractsfinder.service.gov.uk/Notice/05184aa1-3a05-416a-94c9-c1a01ff59d88)) - CWC25196c - Great British Energy Solar Partnership: Rakegate EVCPs: Wolverhampton City Council to eEnergy Services UK Limited, £28,813, awarded 1 April 2026, ends 18 April 2026 ([notice](https://www.contractsfinder.service.gov.uk/Notice/11442c93-7f3f-45ed-85b2-69ab5e0a13e2)) - CWC25196d - Great British Energy Solar Partnership: Lanesfield EVCPs: Wolverhampton City Council to eEnergy Services UK Limited, £25,793, awarded 5 April 2026, ends 10 April 2026 ([notice](https://www.contractsfinder.service.gov.uk/Notice/87e83499-1a94-4488-883b-2401a32c9e28)) - GMCA1677 Wigan CFAS Solar PV And Optional Battery Storage: The Greater Manchester Combined Authority to Carbon3 Ltd, £74,695, awarded 14 January 2026, ends 31 March 2026 ([notice](https://www.contractsfinder.service.gov.uk/Notice/7bbed016-d322-40be-b6d6-c9a585c4c9c8)) - The Supply and Installation of Solar PV in 4 Sunderland Schools. (including a Council Option to include the Supply and Installation of Solar PV in a further 2 schools).: Sunderland City Council to Oakes Energy Services Ltd, £73,151, awarded 20 January 2026, ends 11 March 2026 ([notice](https://www.find-tender.service.gov.uk/Notice/005606-2026)) - The Supply and Installation of Solar PV in 4 Sunderland Schools. (including a Council Option to include the Supply and Installation of Solar PV in a further 2 schools).: Sunderland City Council to Advanced Renewable Power Ltd, £89,131, awarded 20 January 2026, ends 11 March 2026 ([notice](https://www.find-tender.service.gov.uk/Notice/005606-2026)) - Great British Energy Award Part 1 Cadw: Llywodraeth Cymru / Welsh Government to PLUG (EV Stations), £101,400, awarded 16 March 2026, ends 31 March 2027 ([notice](https://www.find-tender.service.gov.uk/Notice/072421-2026)) ## Corrections - 6 October 2026, the date of the “Delivering” entry: The 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 September 2026. Now: 14 September 2026. ([source](https://www.gov.uk/government/publications/great-british-energy-annual-report-and-accounts-2025-to-2026/gbe-annual-report-and-accounts-2025-to-2026-html)) ## Sources - [Labour Party: Change, 2024 manifesto (PDF), page 53](https://labour.org.uk/wp-content/uploads/2024/06/Labour-Party-manifesto-2024.pdf#page=53) - [Great British Energy Act 2025](https://www.legislation.gov.uk/ukpga/2025/16) - [DESNZ: Notice of designation of Great British Energy (19 May 2025)](https://assets.publishing.service.gov.uk/media/682b504a8999f671f3c2443a/GBE-designation-letter.pdf) - [HM Treasury: Spending Review 2025 (11 Jun 2025)](https://assets.publishing.service.gov.uk/media/68627094354985706f111adc/E03349913_HMT_Spending_Review_June_2025_TEXT_CS_Accessible__002_.pdf) - [Great British Energy: Annual report and accounts 2025 to 2026 (14 Sep 2026)](https://www.gov.uk/government/publications/great-british-energy-annual-report-and-accounts-2025-to-2026/gbe-annual-report-and-accounts-2025-to-2026-html) ## Checks - Checked by AI Journalist (automated) on 6 October 2026; human editor review to come. --- Public Ledger's own writing (headlines, status notes, cost notes, summaries) is licensed under [Creative Commons Attribution 4.0 (CC BY 4.0)](https://creativecommons.org/licenses/by/4.0/): reuse it, crediting Public Ledger with a link to the card. Official figures are under the [Open Government Licence v3.0](https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/) unless their source says otherwise; quotes from Parliament under the [Open Parliament Licence v3.0](https://www.parliament.uk/site-information/copyright-parliament/open-parliament-licence/); other quotes are short extracts whose rights stay with the speaker. How the numbers and statuses are made: https://ledgergov.uk/method.