Prime Minister Andy Burnham has announced plans for a new government-backed body, GB Grid, to invest in the electricity network. The proposals, made during his first address to the Labour party conference as prime minister, aim to address Britain's rising energy costs and sluggish economic growth.
GB Grid is intended to work with the private sector and network companies to increase competition, reduce costs, and accelerate delivery within the energy sector. This initiative seeks to help companies connect to the power grid more quickly and potentially lower energy costs for consumers.
The creation of GB Grid is timely, as Great Britain plans to invest more in upgrading its power lines and electricity infrastructure in the coming years than in the past three decades combined. The body will have limited funds, estimated at most around £4bn, which is a fraction of the £70bn investment expected over the next five years. Alongside GB Grid, Mr Burnham plans to expand the rights of developers and businesses to build their own infrastructure for connecting projects to the grid.
The proposal has received support from some, including Mathew Lawrence of Common Wealth and Doug Parr of Greenpeace, who see it as a step towards addressing long-standing issues in the green energy sector. However, some in the network industry are not convinced, citing challenges such as shared supply chains, skilled contractors, and planning systems that may not be resolved by a new body.