Putting People at the Heart of the Energy Transition

Strategic Insights -

As we embark on the critical transition to a cleaner energy future, it's essential to put the British people at the forefront of this journey. Great British Energy, a publicly-owned energy company, is leading the charge by giving people a stake in clean energy and delivering profits for the British people. With six out of every 10 people in the UK supporting the idea, according to a 2024 YouGov poll, the Great British Energy Bill has passed in Parliament, marking a significant step forward in Scotland's energy story.

Key Takeaways:

  • The Great British Energy Bill has passed in Parliament, receiving legislative consent from all three devolved governments, allowing the company to operate more effectively in Scotland and benefit people across the UK.
  • The UK has the largest floating wind pipeline in the world, with over 25GW already agreed, including through the ScotWind and INTOG leasing rounds, with 73% of this pipeline located within Scottish waters.
  • Great British Energy has announced a £4m fund to support communities in installing wind turbines and solar panels, providing them with a stake in generating their own energy and allowing them to reinvest profits locally.
  • The company has also established a £300m fund to invest in offshore wind supply chains, mobilizing billions in additional private investment and supporting thousands of jobs.
  • Scotland's abundance of natural resources positions it to benefit significantly from the energy transition, with a new chapter of profitable and sustainable growth on the horizon.
  • Great British Energy aims to accelerate this transition by backing renewable projects that put the power back in the hands of the British people and create onward jobs and supply chains for thousands of people.

Statistics:

  • 6 out of 10 people in the UK support Great British Energy and the idea that people should benefit from critical energy infrastructure (Source: 2024 YouGov poll).
  • £300m fund to invest in offshore wind supply chains.
  • £4m fund to support communities in generating their own energy.
  • Over 25GW of floating wind pipeline already agreed, including through the ScotWind and INTOG leasing rounds.
  • 73% of the global floating pipeline located within Scottish waters.

Sources:

  • 2024 YouGov poll
  • Great British Energy website
  • Scottish Government press release (no date given)
  • Great British Energy press release (no date given)
  • UK Government press release (no date given)
  • ScotWind and INTOG leasing round reports (no dates given)