Burnham to unveil public body to invest in electricity grid
The prime minister will say he wants to reduce energy costs in his first conference speech as Labour leader.
Labour leader Andy Burnham is set to unveil a new government body called Great British Grid at his first party conference speech, aiming to invest in Britain's electricity grid. This body will focus on accelerating grid connections and increasing competition to drive down costs, with the goal of aligning UK energy costs with those of other European nations within ten years.
The creation of GB Grid is part of Burnham's broader ambition to provide greater public control of utilities, and it will be funded through the existing budget of GB Energy, a public green investment company established by Labour last year. Burnham plans to work with the private sector and network companies to reform the energy market and increase competition, making it easier for businesses to connect to the grid and grow.
The transition to a more renewable energy system requires significant investments in the ageing transmission grid, with estimates of £70bn needed between 2025 and 2031. However, delays in projects and a growing backlog of connection requests have been identified as issues that GB Grid will aim to address.
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