What is Burnham’s GB Grid plan and could it bring down energy bills?

The proposed GB Grid plan, backed by the government, has garnered support from some in the sector but faces criticism from others who view it as yet another quango. Andy Burnham, as prime minister, is set to address Britain's escalating energy costs and stagnant economic growth in his first speech to the Labour party conference.

The plan, first reported by the Guardian, aims to establish a government-backed entity to invest in the electricity grid, expanding upon Labour's manifesto pledge to create Great British Energy, a state-owned firm dedicated to renewables investment. However, Burnham's plan seeks to tackle the more pressing issue of reducing bills and boosting the economy.

Burnham is expected to emphasize the severity of the energy cost crisis, stating that "We have a cost crisis. We all know it." He will highlight the crippling impact of high energy prices on businesses and British households, noting that the UK currently pays some of the highest energy costs in Europe. According to Burnham, the current energy system allows prices to be dictated in distant markets, leaving families and businesses in the UK to bear the brunt of the financial burden. As he puts it, "The British public has lost control."

While the diagnosis of the energy crisis is widely accepted, there is debate over whether direct government investment in grids is the solution Britain requires.