What is GB Energy?
Great British Energy is a publicly owned energy company designed to drive clean energy, enhance energy independence, create jobs, and ensure that UK taxpayers, billpayers, and communities benefit from clean and secure energy. GB Energy will not directly provide electricity to homes; instead, it will focus on financing new and existing clean technologies and renewable energy projects.
Who’s in Charge?
Great British Energy will be an independent company solely owned by the Secretary of State for Energy Security and Net Zero. Chaired by Juergen Maier and led by its own CEO, GB Energy will be supervised by an independent board rather than by ministers.
Where Will It Be Based?
Labour had promised that GB Energy would be based in Scotland when it initially announced plans to launch the company before coming to power. However, the specific location was not revealed and was not mentioned in the King’s Speech in July. Several sources have confirmed that GB Energy will be headquartered in Aberdeen, with Prime Minister Sir Keir Starmer planning to travel north later this month to make the official announcement.