\n<\/p>\n
Labour would kickstart the creation of green energy projects across the country within months if elected, the party has said.<\/p>\n
The party plans to create a publicly owned company called Great British Energy.<\/p>\n
Labour leader Sir Keir Starmer said investing in the production of domestic clean energy would cut bills.<\/p>\n
But the SNP said the project would “destroy Scottish jobs and investment”.<\/p>\n<\/div>\n
Labour said Great British Energy would “turn the page on the cost-of-living crisis” by lowering energy bills.<\/p>\n
“The pain and misery of the cost-of-living crisis was directly caused by the Tories\u2019 failure to make Britain resilient, leaving us at the mercy of fossil fuel markets controlled by dictators like [Russian President Vladimir] Putin,” Sir Keir said.<\/p>\n
Great British Energy would be headquartered in Scotland, where much of the UK’s fossil fuel and offshore wind industries are based.<\/p>\n
Labour would fund the company through a windfall tax on big oil and gas firms, which they said would raise \u00a38.3bn over the next five years.<\/p>\n
The company would provide homegrown power from wind and solar projects across the UK as “early investments”, the party said.<\/p>\n
Great British Energy would also invest in new technologies including floating offshore wind, hydrogen and carbon capture and storage.<\/p>\n<\/div>\n
Sir Keir and Scottish Labour leader Anas Sarwar are in Scotland to launch a new logo and website for Great British Energy.<\/p>\n
The plans were welcomed by Greg Jackson, the founder of energy company Octopus.<\/p>\n
He said: “Labour is right that the UK’s reliance on fossil fuels added thousands of pounds to bills, and we’re pleased to see that they plan to fund a clean energy future by taxing the oil and gas giants.\u201d<\/p>\n
The Office of Budget Responsibility recently warned a similar shock to Russia launching its war on Ukraine could cost the UK \u00a345bn-\u00a368bn if the country remains dependent on international energy markets.<\/p>\n
In the last two years, a typical family paid \u00a31,880 more than if prices had stayed at their previous levels.<\/p>\n
The government’s former chief scientific advisor, Sir Patrick Vallance, also endorsed the creation of Great British Energy. <\/p>\n
Speaking to the BBC, Sir Patrick said he believed it was possible to move to clean electricity generation quickly “if the government gets its act together”.<\/p>\n
\u201cIt’s not currently happening in the way that I think it needs to,\u201d he added.<\/p>\n
Conservative Energy Secretary Claire Coutinho said Labour’s plans were unfunded.<\/p>\n
She attacked the party’s moves to stop new oil and gas licences in the North Sea, claiming jobs would be at risk.<\/p>\n
The SNP said the scheme would use “Scotland’s energy wealth” to fund nuclear projects in England and could cost 100,000 Scottish jobs.<\/p>\n
SNP Westminster leader Stephen Flynn called it a “con trick” which would “deter billions of pounds of investment”. <\/p>\n