What is the UK's new publicly owned Great British Energy firm?
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- Опубликовано: 16 окт 2024
- Sir Keir Starmer says he's confident that household energy bills will come down, although he admitted it would "take time" - as he gave more details of the Government's new publicly owned Great British Energy firm.
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Sir Keir set out plans to roll out new offshore wind farm developments on seabed owned by the Royal family, in partnership with the Crown Estate.
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£8 billion investment is still less than the £10 billion that the Tories were planning to waste on the Rwanda scheme, and this is going to generate returns for taxpayers. We cannot let the Tories back in charge otherwise they will sell it off just like they sold our water companies and railways and destroyed those industries.
How can we stop the invasion of immigrants?
I wonder: how many people here understand economics? Do you think money grows on trees? Hopefully Labour will cut taxes on business. Cut the free ride so many believe is their birthright.
We should not be spending a penny for that futile Rwanda scam not scheme.
@@miyahtallulahyou're right, money doesn't grow on trees, it grows in banks! 😂😂😂
@@miyahtallulahbusiness taxes are already too low, they already don't pay for the infrastructure they use & your "free ride" nonsense is just that, nonsense. 😮
people: we need lower energy bills and green energy
also people: NoT iN My bAcKyaRd
That's another angle.
Its called entitlement.
@@ccclcsr no its called common sense
@@ccclcsr where are you going to put it mars then ? you have seen Clarkson farm, farming is not profitable might a well give the farmer some deviance and help the UK at the same time
Legit this, people need to realise that we need energy independence
Bringing ownership of utilities back into public ownership is something Ive wanted for decades.
Me too but that's not what's happening, they're offering up to a 25% investment, not even a controlling stake 😢
Should have voted Green, their offer works.
Yea so does everyone but this isn't doing that. It's essentially using Scotland resources for other regions in the UK by building more ways to transfer the energy to england. It's literally pulling the wool over your eyes
@montedaestrada3563 it's something we need to continue to press them on
This has all the hall marks of the development of North Sea oil by the British state. We invested in BP, which was publicly owned to develop the North Sea. But which Dennis Healy, Labour chancellor of the exchequer at the time, was forced to part privatise, by the IMF as a condition of a loan, that was never needed anyway, to pay for that development. Like Bliar's PFI deals, the Labour Party playing with big business is them playing with matches. They don't have a deep cultural influence in the state institutions or the world of finance like the tories do. And the tories are only doing businesses for themselves. Labour's best strategy to make the key utilities work for the people is nationalisation and electoral reform to stop the tories ever robbing us again.
@obiwanjabroniX I live in Shetland mate you should see the state of the place with wind farms. Absolutely devastation, not just the turbines but the pylons, access roads, and we pay the highest bills in Europe. Fool Britania, free Scotland.🏴🏴🏴🏴
Way I see it is the national infrastructure & public services should always be owned by the state. It's for the the people & the country not for shareholders pockets. It's a security risk to not nationalise public utilities.
Well said
The biggest security risk for the UK is whoever is the sitting government of the day. Utilities, I agree should be in the hands of the state, but legislation needs to be in place that isolates such bodies from ANY sitting government from enacting legislation to undo this without a referendum, with a MINIMUM 75% in favour.
@@YUDNSAY That's a good idea!
100%
British culture is so skeptical about these sorts of projects. That’s probably why we’re so behind every other developed country in so many aspects
It's more the fact the UK have done similar projects previously and they have been disastrous.
It always leaves the public paying more to useless fat cats for a lesser service, that's why the UK populace is skeptical - The Who - Won't get fooled again should be the Company's theme tune. Full nationalisation of the total energy structure with non striking unions like the army, same with Water!?!
Main reason is in the last 14 years, almost all major public infrastructure projects have been disastrous failures because of inflated contracts and the governments willingness to accept poor quality results because they don't want to claw the money back from the friends they gave it to. The expectations that the public has for the government has dropped so low that we aren't even surprised when something fails or costs billions more than planned, and most of the time its even expected
@@SwillMith16 So by your measure the next 5 years all projects will run perfectly. Labour will announce infrastructure delays next week due to budget. People who think labour will achieve a monumental change are not real.
@@XxKP2606xX it’s the English that are skeptical because they are easily led by the government and the press sadly
This is excellent news. Finally a government that cares about UK becoming energy independent. If the tories bothered to invest into renewables 14 years ago, we'd hardly notice a cost of living crisis.
Not producing our own oil and gas will make that impossible.
complete rubbish ,half of this stuff will come rrom china taxing the oil companies means your pensions go down
Your conclusion is correct but this government won't be doing it either, for that we needed the Greens.
@@alanhat5252 I`m a right winger and would like to see the government put solar on all houses where it can. Saving people a fortune that could be feed back into the economy.
We wernt able to do this in the EU
Not a Labour voter but this is one policy I liked from Labour. You don’t need to own the whole energy production but they just need to have a piece of the pie to be a competitor in the open market and be competitive to keep others competitors prices down so they stay competitive. Also in periods of high demand the governments energy can be used instead of higher cost energy producers.
I work in energy as an analyst. I dont think it will make that much of a difference unless they have economy of scale, ie. Dominates the market. France do this where they own 50%.
Most of your costs is in the Cost of product. Those prices can vary depending on how much you hedge for the product. If you dont have a lot of money you cant hedge much therefore your cost will be higher. Also theres risk with hedging, great example was bulb going under.
Theres lots of other examples etc such as investment in green energy costs etc but this is just an easy example of how owning a smaller portion of the market dosent serve us much better.
If you ask me. Buy the market conpletely and keep them all as subsidiaries. Therefore the profits go into shared investment for greenenergy whilst promoting innovation in each of the companies.
A state-owned company will not betray u like a company run by overseas owners.
That's how I learned from Thames Water which sells to an overseas owner.
Can the UKer have clean and safe water is never their priority.
Some critical infrastructures e.g. water/power must be controlled by a UK company or UK gov. U will never know who will start a war with you tmr and look for windfall during wartime.
I still remember petrol stations are empty as the imported supply cannot catchup.
@loading418
A spades not even in the ground and it's already happening.
King Chucky is selling our land to the government who will pay for it with our income tax.
Slavery is alive and well.
You're thinking of the "Oil Crisis" in the early '70s when Izrael started blowing up oilfields across the Middle East as part of their Yom Kippur War?
Perhaps you're thinking of any of the more recent times oil supplies were held hostage by similar stories?
UKEnergy will not be generating or distributing any energy, all they're offering is a 25% investment into somebody else's facility, not even a controlling stake, no energy security can come from that.
And Labour have a good track record of running national businesses. Remember the 70s…! Oh dear, oh my……. It will end up being dragged down by the unions….!
@@luminousfractal420 Agreed, however, the unions did a good job wrecking our economy in the 70s and they have started on the same track with Labour and we are only 2 months in. Union leaders are more corrupt than politicians…!
Based on past track records I don’t hold up much hope for Labour running a nationalised business….! Let’s see, I hope I’m wrong
Natural resources belong to everyone. Not just to few private companies
All you gotta do is go and drill it out the ground or stick your own wind turbine up not to mention maintain it, go for it
@@mofojohnson1well, there's Planning Permission to get past but basically yes you can. Sometimes. Many domestic properties are denied mining rights, sometimes by bylaws & sometimes it's in the Deeds & then there's the problem of transporting your oil or electricity away for sale...
Then u go dig it out!
People are too addicted to welfare.
@@allykhan8594addicted? No, just trapped.
The Greens are offering UBI which takes out the trap, Labour _were_ offering at least a "trial" of UBI but they've even dropped that under Starmer. 😢
9:40 no lies were told. God it's so nice to see an actually sensible person in charge of something so important
😂😂😂😂😂🤦🏼♂️🤦🏼♂️🤦🏼♂️😂😂😂😂
Yeah. Go ahead and believe this liar. No different from the last one. And you wonder why the country is going downhill!!!
@@commandingjudgedredd1841no really, no lies were told!
Hahahaha how are they so sure they will attract private investment, when the government trying to heavily tax the wealthy, VC and banks? The wealthy already leaving the uk along with their money
@@commandingjudgedredd1841 strange as I thought the country was the way it was because England sold its soul for greed for the last 40 years 🤷♂️ it’s why England now has nothing and wonders why it’s all gone 😂 after voting for it all in every election
There is nothing wrong with running solar in pasture land, raise the panel supports high enough off the ground so that the animals can graze under them. The real key to large scale solar is battery storage, they go hand in hand, the batteries can soak up excess energy and release it into the grid when needed.
In the right locations pumped hydro works too
How does the pasture land grow if it gets no sun?
@@JakeLDS dont worry he hasnt ever seen grass before in his life.
That's why you see farm animals in with solar, oh wait they use mowers.
@@JakeLDShave you seen a carport? They're not pitch black underneath, there's plenty of daylight under them. Same with solar panels mounted high enough that farmers don't clonk their heads on them 😂😂
The problem we have is because most people always taught that " You only need a good job to become rich. These billionaires are operating on a whole other playbook that many don't even know exists.
Money invested is far better than money saved, when you invest it gives you the opportunity to increase your financial worth.
It's remarkable how much long term advantages people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%.
My primary issue right now is how to increase revenue during these tough times. I can't afford to see my savings disappear into thin air.
to be a successful in life required not only hard work but awareness and sometime opportunity at the moment, investment remains the best way to start.
Thank you Ed Milliband for getting on with the job and thrusting us into the future of self ownership of energy.
People who think fossil fuels are going to be here forever are woefully naive. How many of us still burn lumps of coal to heat our homes like my grandparents did?
Also the NIMBYs saying it’ll cut down food production, we import most of our food anyway.
There are few countries to import energy from and the majority of them are either unstable or antagonistic to our nation. We can import food from a practically any country. Energy is in the hands of only a few nations.
As a cooperative investor in a Ripple Energy wind farm I am now getting 4200 kWh of electricity at a discounted rate via octopus energy for next 25 years. This will hopefully encourage more investments of this type. I also generate 4200 kWh of electricity per annum from roof top solar which saves significantly and further reduces cost via export payments. This needs to be encouraged by the government to reduce dependancy in fossil fuels. Labour are in the right track.
Have Labour made any promises about that? Followed it up with legislation?
Don't trust them till you see the colour of the money, they've already got a habit of dropping promises...
They did that with solar in Australia then the u turn came then you were charged for exporting into the grid. A bit like EVs and your congestion tax
@@alanhat5252 Better than the previous shower so far .
Have any of the huge multinational energy firms been able to make mo eye out of renewable? No? Oh let's give it a try it's only 8billion
@@nigelliam153 I don't export I keep it all to myself, for the cars, hot water, and heating.
We need to seriously nationalise a lot of industries in the UK to assure our Britishness
You mean enjoy a Brexit benifit
@@ChrisMurray-iw9ij you could say
@@IlfordRules16 you could say because it's 100% factual
@@virtualunreality8326 they need to be made by Muslim slaves in China or the numbers just don't work out
@@ChrisMurray-iw9ij How does leaving the EU have anything got to do with nationalising private industries? Most of Frances energy, transport and utility companies are all state owned yet they are in the EU...
Last year the amount spent by the UK on energy imports topped £100bn for the first time on record, with DeSmog's analysis indicating that the UK spent more than £125.7bn on fossil fuel imports in the year beginning February 2022. Producing Renewables and changing to EVs means this money doesn't leave the UK. About time we have politician not bending the knee to the fossil fuel industry.
the northern areas dont have unlimited oil if thats what ur imagining, the price will still be at international level because UK govt needs the profit
@@abhi739 what i am imagining, is the £125.7bn of fossil fuel imported not being imported and the money staying in the UK because its produce the energy in the UK with Renewables.
@@freethinker4991 yes but that risks over drilling. Most countries import to keep domestic reserves for national security. UK govt cud look at sodium ion electric batteries. Cheap effective and can be manufactured at home
@@abhi739 You get it don't drill stop burning fossil fuels and Install solar wind and batteries. Than £125.7bn on fossil fuel imports stop and we can spend that money in the UK improving the economy.
@@freethinker4991 good plan. I wish conservatives did it when they had 14 years. Disappointing to say the least
Its so refreshing to finally have a government that's not sold its soul to big oil, and is actively taking sensible steps to make peoples lives better.
Its also worth mentioning that the cost of this scheme is two billion pounds less than the Tories where planning to spend on shipping a few migrants to Rwanda.
We are far better off putting our resources into the clean energy of the future, Well said Ed!
Not really, it’s bankrupting the country.its insanely expensive, we can’t afford it.
It’s nice to hear an interview where the interviewee answers the questions
It's like waking up from a bad dream and it's still 2007.
Nice to hear an interview that dont have questions framed for gotcha moments like they do with people they dont want the public to like
In Ireland, we have a state energy company that pays hundreds of millions back to the Irish State in annual profits every year .......your Main land should Wake up.......
Finally government doing things that will help our future generations.
No new oil fields in the North Sea will make people far better off … tell that to the thousands employed in that area once the current fields are exhausted.
What did he say? It's going to take land out of food production.... all I saw was an empty field with a few cows...
Exactly , help make energy or just have a field of cows
You need both solar and wind for a balance of supply, but solar became the cheapest form of energy about two years or so ago. The wind and solar are both dropping in price, but solar is falling at a faster rate. We must sort out the grid though because it is holding up a huge amount of investment.
You NEEED nuclear. Green energy is not reliable.
Dropping in price but we're paying more than ever for electricity.
The more renewables the higher the prices go, if only we could find a connection.
@@Robert-cu9bm 😂 😂 you clowns are hilarious
You understand nothing but think you are experts
@graemeroberts7367 they think those tin foil hats of theirs makes them smarter 😅
@Robert-cu9bm energy is more expensive right now because majority of our energy currently is from gas which has gone up in process per barrel internationally and is controlled by greedy corporrations. Transitioning to renewable energy will mean that we take our dependence away from oil and gas which we have little control over to wind sola and nuclear which we have more control over. So yes renewable are getting cheaper but as it stands we do not have a lot of renewable energy supplying power hence why bills are goin up. Therefore the government creating gb energy to reduce that dependence on oil and gas and invest in more renewable will drive down prices down the road. Hope it's more understate for you now.
I could see plenty of space for grazing animals to tend that solar field, they need shade and you won't need to strim around the supports 😉
What's wrong with putting solar on houses instead of ruining the country side oh that's right the big companies won't make as much money
One , the gov owns the land and can do it , second it requires people to do it and the gov doesn't have much control. Well done on earning some brain cells
4:26 it's not _in_ food production! We can see it, it's fallow!
Ok, it's tricky putting row-crops under solar panels (tricky, not impossible) but there is absolutely no problem putting grazing animals under them!
I am sure the example in the video was done for a reason so that no animals can feed. But it clearly need cutting back on the undergrowth.
Don't the animals need to eat the grass that requires sunlight?
energy? get a 340 litre wheely bin, put a gas tap in the lid, fill with kitchen waste,weeds,water and a cow pat,silicone the lid down, a methane bio digester! it will provide 50-100kw hours per month of methane natural gas for cooking,heating, it will run any engine with a spark plug, generator,car etc. after digestion what is left is called 'blackjack' the best bio fertiliser for 10x veg growing. gas storage, use a tractor inner tube , lilo,dingy,air bed,more pressure,put a brick on it. get everyone off grid!
Being a Homeless Veteran for 10yrs if any of you think it's easy it's not. Nobody cares about our situation Now i make 22k weekly. have a home, a wife, a lovely daughter... A child of God. HALLELUJAH
My dear, please for the love of God can you shed light on how it happened??
All thanks to Christina Ann Tucker
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my daughter's surgery (Joey). Glory to God.shalom.
Absolutely! I've heard stories of people who started with little to no knowledge but made it out victoriously thanks to Christina Ann Tucker.
I do know Christina A.Tucker, I also have even become successful....
Putting solar on large warehouse's etc would make the most sense for new solar to start with.
Lets hope they get rid of standing charges.
Zero chance of that!
Do you know what standing charges is for? If they get rid of it, pretty sure it will go into unit charges
Ed's position on this is so encouraging after losing so much ground and our place at the front of the drive to net zero during the last five years. I am however worried about those plans to remove so much of our countryside and agricultural land for solar farms. So far as I know, unlike wind turbines, the ground underneath can't be used for anything else and is no use for livestock or wildlife. As the lady said, we should follow the best of the Europeans in covering car parks, stadia etc. with panels rather than taking good land away. Those challenging this are not being NIMBYs.
Drive to net zero is just a stupidity contest. Who can hurt their country the most. I guarantee these politicians pushing net zero will earn their buds billions whilst hurting the nation. China isnt going net zero, america isnt going net zero, russia arent going net zero. Whats the point other than to hurt the beitish people?
Our land is mainly used for just cows
Too little, nationalise the whole rip off power companies, Water too
Like British Rail? No thanks. The USSR collapsed years ago- thankfully.
@@miyahtallulah 😂 😂 😂 yet it’s the right trying to create a USSBritain
@@miyahtallulahyou are part of the problem.
They can’t do that all in one go
Why not go full communist? 🤡
As someone who works in off grid gas as an analyst. I would very much like to see the direction we may end up taking.
Although i do think in my opinion, gas and energy nationalisation is for the greater good of the people in the uk. Just need to make sure its done right and use the knowledge the companies have to their advantage.
Get Household battery storage while it's cheap
Just a battery & a good controller can more than halve your bill, add solar & you've got free electricity, even to charge an electric car if you've got a driveway to put the car on! A good setup will actually _pay_ you money.
@@alanhat5252will take years to feel the economic benefit. Look outside mate cloudy in the middle of the summer.
@@claretblue2509 you move to a demand based rate electricity plan, charge when cheap, export when expensive
Labour have already gone 15BILLION over budget, let’s see how u all like tax hikes
It can go above sheep fields, giving them shelter. 😀
If it brings down energy bills, then that sounds good to me, especially for lower income households. of course, any changes within a sector should always ensure jobs are transferred to the new model.
Basically £8b out of £68b. So private funding. Not coming without a return.
Ikr, esp when they are trying to heavily tax the wealthy, VC, and the banks
Energy prices have to go up to generate positive revenue before private investment would come in.
I live in France and there are vast solar fields in the countryside - land that is not good for growing wheat or corn. The return on solar can be better than growing trees. What would you do?
Well as a citizen of nation that had to give in into US pressure to privatize energy institutions i now envy the UK for this move. Good for you.
This isn't what it sounds like, it will still all be private companies 😢
@@alanhat5252 *sigh* yeah well, but at least it seems like the profits will go back to the state.
Private industry does it better and cheaper.
@@miyahtallulah We can clearly see thats wrong with the railways, energy companies and water companies. Private companies are all about profit for shareholders no about the benefit of people.
@wortho
Buy shares then mongo
The National Grid needs upgrading in order to connect any number of new wind or solar generators. Across England and Wales there have been a good number of wind generators built however connectivity to the grid is still not in place.
So why did they build those wind farms knowing there was a five year wait for connection?
Conservatives so scared of taxes 😂😅
Scared? No, they just don't want to tax their mates. For us plebs the tax burden is the highest it's ever been. 😢
@alanhat5252 I know there scared of labours new taxes because they all gonna finally have to pay more out of there own pockets that's a W
@@3llusiiv331 your forgettinf they will trickle those taxes down to you by charging higher prices to ensure the same profits so in effect you are taxing yourself more while they will be laughing to the bank.
@@3llusiiv331and now the wealthy are moving out the uk, along with their money. Oh i heard Labour taxing VC as well. So good luck having ground breaking unicorns
@@3llusiiv331yeah now that Labour taxing the wealthy, they are moving out of the uk, along with their money! Oh i heard Labour gonna heavily tax vc and banks. Good luck finding the rest of 75% investment in this new energy company
tories had 14 years to fix stuff,, and they 'forgot'
This company will be privatised for a fraction of what it coast as soon as the tories get back in power
It will be private anyway, Starmer is only offering a _maximum_ 25% investment.
@@Psilo156 first sensible comment on this entire video 😂
Better make sure they don't do that, then.
Won't this cut the ankles off companies like UKW?
Did Ed really just say 'take back control'? 😂 Love it
Cuts of new oil and gas licensing and also sayi g that doesnt effect the price of energy? Its basic supply amd demand. If you take supply away the price goes up.
We need UK battery Storage, the UK has enough natural and fossil resources to be independent, we go from needing energy to france to be exporter of Europe in 24 hours
Take Scotland out, now do yous have enough? No.
@@obiwanjabroniX Didn't ask
@@oOiWaRRioRzOo that's the issue, you never ask. If you did ask you'd beg us to stay even more
@@oOiWaRRioRzOo but you did beg us to stay because of it 😉 your also after our water since 99% of Englands water is disease ridden dirty water
@obiwanjabroniX Well, guess what. You guys are staying, that dream died when your own country voted the SNP out of Scotland. We're all in this shitshow of a ride together.
Water and energy should all be publicly run and protected
This is a fantastic investment in the future and a long term renewable solution. This is essential especially in the growing geopolitical situation of the world and ever depleting natural resources.
True but the Gov't is only offering a 25% investment, not even a controlling stake. Most of the benefit will go abroad.
Should have voted Green, their offering actually works for the British people.
@@alanhat5252how do you know Green works? Do you have a crystal ball?
by scrapping winter fuel allowance for pensioners?
Solar isn't a gimme in the UK, why not back the energy sources that the UK has in abundance: wind and tidal
Nuclear???
Solar panels run just fine on a cloudy day, because their efficiency actually drops the more sunlight falls on them. We're a Northern country that has longer hours of sunlight in the summer, which takes the strain off the grid especially at those times.
We are doing all of them, that's the point
@@tmarritttidal?
There's a couple of dozen projects waiting for the go-ahead, they've been waiting 14 years & only 1 is actually running, it was given the go-ahead by the Scottish Government & is powering some of the Scottish islands. Even the one in Wales that was given the go-ahead by the previous Labour government has been sitting on the dockside for a decade waiting for Government funding for routine maintenance. 😢
Solar works just fine here. Sure, wind is good too, but solar is far more efficient. Together, along with battery storage, a combi commonly abbreviated to SWB (solar, wind and batteries) EVERY country in the world could have super abundant electricity. Just needs the investment, and much less investment than nuclear, gas or coal.
They could put the solar panels on legs and still grow crops under them like other countries are doing.
Plant hedges around the field boundary to hide the panels from view and help local wildlife.
I understand why farmers are doing solar farms as been a farmer has little profit margin these days and they have to have funds to repair machinery and buy seeds etc, especially with climate change.
A larger supply of energy would bring down prices yes be it dirty or clean the social costs of the former is a different conversation. Saying more drilling wouldnt lower prices is anti economic
Its supply and demand, of course drilling would reduce energy prices. The Green alternative is extremely expensive in comparison also when weighing up output.
Almost all UK oil & gas is sold abroad, we buy back lower quality stuff at silly-high prices.
@@jimmyb79no, the Green's alternative is _cheaper_ & more independent, it's been checked by experts. Don't believe everything you read in newspapers, in fact don't believe _anything_ in newspapers until you've fact-checked it from multiple verifiable sources. 😂😂😂
@@alanhat5252 North Sea oil production peaked 25 years ago and has been in terminal decline ever since. There are no limitless wells of unexploited fuel for the UK to drill for. At least, few that would be economic to do so, hence why BP and Shell have both ditched their North Sea operations.
What is limitless though? The wind and the sun. Why not now focus on all that unlimited untapped wealth? We could export all our surplus to Europe and grow rich like Norway. What's not to love about that?
One missing word here: "storage". I wish our politicians and the journalists asking them questions had some idea about the production and supply of energy. 🤔
Ed Miliband comes across as very knowledgable and well spoken in his responses. Very refreshing
I like the idea generally, but we should follow Norways model and continue to allow North Sea oil to subsidise the transition. Remember we will still need oil even if all cars and homes where 100% electric for materials.
The same policy in Australia is failing and they have better resources…?
No, the policy is not failing in Australia. If anything it has been too successful. You need to get better at spreading such blatantly false misinformation.
Never in a million years would i have thought Ed milliband would have made such a comeback from 2015. in frontline politics Im very happy for him to be where he is today
I actually agree with Labour ... we need investment into energy production .... for all our future \o/
😊.. how much CO2 in the atmosphere? 0.04pc
How many byproducts from oil including TV, mobiles, clothes, roads, medication, 6,500
Solar farms. One and a half million houses.
No farms. No food. No future
You surely know you can synthesize all of these oil products with electricity .
So energy will be sold at market rate from GB and Eon for example to Eon/B'Gas. Eon/B'Gas then sell at market rate to households. Market rate is set on gas prices. The same problem we had with cost of living where cheap energy was sold at gas price for massive profits. So where do our bills come down? I see GB can fund public services with their portion of the generation profits but I can't see energy prices coming down. Someone explain pls.
Let’s look at Denmark - a country that has the highest level of renewable energy and has the highest domestic electricity prices in the world! So instead of lower bills get ready for sky rocketing prices
You clearly don't know anything about Denmark. Read up on their sovereign wealth fund and how they are able to use their renewable energy for their use and sell their nationalised fossil fuels abroad and make a ton. It single handedly funds their welfare system. And their electric bills are relatively small compared to their significantly higher standard of living.
Iceland has 100% renewable electricity & 90% geothermal domestic heating.
@@_F8. Denmark doesn’t have that’s many fossil fuels
@@stuartwood5448 we have natural gas
@@stuartwood5448 "Denmark doesn’t have any fossil fuels" - How to say you're uninformed without saying you're uninformed.
More off shore wind farms. Drive fish to other breading grounds. Build solar farms. Remove agricultural land from food production.
Ah yes a field full of cows are really important aren't they
Ah yes, the same Starmer who just punished MPs for (checks notes) wanting children to not starve.
It's all about the timing autumn statement will likely have that in it and more details you just gotta wait and actually let the government unfuck us after your government 🎉
.. if they use arable fields for solar panels and if they use land for one and a half million houses, where will the farmers grow crops and graze cattle? Well have to fly in food from other countries so expensive. So yes, children may starve along with citizens of the UK.
2030 is much much much too soon
Womp womp
He won’t be able to, not while we are still out of the customs union, and out of the single market, there is no way that we can regrow the economy in UK while Brexit remains
in profit in 5yrs...😂😂😂
this is an investment company, no more....the infrastruture will not only destroy farming land, wildlife. wildlife habitats and countryside but cost 10x what these politicians say
That how in investment works…
Those panels are not that expensive anymore. With delays on nuclear power and wind parks blocked by sunak. This will turn a profit quickly.
@@Toodyslexicforyoui wonder how they are gonna attract the rest of private investment because the wealthy already leaving the uk along with their money due to Labour tax. Oh and i heard Labour gonna heavily tax VC and bank as well
@@ccclcsr gosh I do hope your are aware of the uk leading rates of corporate profitability….. so a tax rise will lower this to idk still extraordinary levels…. Yikes get a grip of your self.
we pay green subsidies to energy companies anyway so why cant this money be diverted to great british energy and fund that?
The main use of energy in the UK is heating. How does solar help heat homes in winter?
Electrical heating
@@Henry-xu5jg Solar generates most of its energy in the summer, just when demand for electricity is at its lowest. Given that seasonal electricity storage will never be viable, how does generating electricity in the summer heat homes in the winter???
@@DavidJBradshawSolar doesn't generate when it's hot. Solar generates from sunshine. Even in winter. No, you won't get all of your energy from solar in winter and yes the amount will go down. But it is all part of the mix. But apparently you have a better idea?
@@DavidJBradshaw it all helps. Solar doesn’t just need to go to heating. It can go to cooking, and other appliances eg; microwave, oven. There’s also electric cars. Further more, solar panels still produce electricity in the winter so it all helps.
@@DavidJBradshaw Summers are sunny, winters are windy I guess ? And hopefully large energy mandates like this drives innovation to the discipline and perhaps seasonal electricity storage can be achieved on a scale like this... Im hopeful at least, anything is better than fossil at this rate imo!
Will Starmer resign if bills don’t go down?
W.e.f keir starmer
Yaeh why don't they ask your mate Kev from the pub instead
Labour party couldn't run a marching band, let alone an energy firm.
The cons couldn't even lift a pen without failing
Did they ever loss money those energy companies?
Paxman asks ? So gimme a couple of UK examples where an energy project has gone tits up and who ended uptaking the pain ;-) ruclips.net/video/tC0dzxIhcm4/видео.htmlsi=J5W4kKB1AZrqsfW_&t=82
On paper, yes, because it gets them out of paying taxes, but the on-the-ground reality is very different, shareholders & upper management walk away with $billions every single year.
@@alanhat5252 .."" but the on-the-ground reality is very different".. thanks.. All explained ..
Everyone's so wide of the mark on UK energy, it's horrific. So many people think we're nearly there because they've got a solar panel, an EV and a heatpump and they once drove past an onshore wind farm. UK all-kinds energy consumption is around 180GW average, of which only 40GW is electricity. Of that, we generate about 40% renewably. Electricity is the 'easy bit' and yet we still have no plan for renewable energy in dark, still conditions (batteries/pumped hydro are thousands of times too small). GBE might be a step in the right direction, but it's too small, too slow.
Never work in a month of Sundays...
It _could_ work, just not the way the government is going about it. The Green's are offering something that definitely _would_ work, fully costed, checked by experts, but the Press told us not to vote for them & most people listened. 😢
The only risk of nationalization is it being blocked by people who'd rather pay more for public service.
How does spending public money to make electricity more expensive bring down bills?
The true cost of wind is 200-250 per MWh once you include all the hidden subsidies that get added to your bill.
That's only true in your fever dreams.
Because if we generate the energy, we set the price.
Gosh you’d hate to see oil price if you take away the oil subsidies….. 😂😂😂
@@Toodyslexicforyou We collect around 75% tax on North Sea oil and gas vs 0% tax on imported oil and gas.
@@MrSmith_ You clearly have no understanding of economics. That is the cost of production, it can be paid via energy bills, or taxes, but either way we still pay for it.
You’ve just put taxes up. 3 weeks in to government
You've got two options- have a resource controlled by private companies whos goal is profit
Or
Have a resource controlled by public entities whos main goal is keeping them cheap while still functioning
Which one do you think is gonna be better for the british people who cant afford heating in the winter-
Solar above parking spaces is a win-win. Not only does it produce shade and protection to vehicles, it’s creates additional revenue from energy. If you’re going to spend the money on them, it just makes sense to put them above tarmac and not grass
Solar isnt quite at the level people think it is.
@@bb5979 It’s quite a common solution already, I’m not suggesting something new, only where you choose to install it
We are citizens. Labour is in power. Put that kind of thinking out of your mind. There are no majesties.. Just people working hard. This is labor's time.
It's 2024 who can use the word his majesty without feeling pathetic.
Solar power is a waste of resources in the UK and is not an economic certainty as it is often made out to be.
They can be built quickly and at low upfront cost, put cost more per kWh beyond that point. There is also no known way to recycle panels after their 20-year lifespan. They are landfilled despite toxicity concerns.
Every penny placed into solar power development would be better placed in nuclear fission provision, with a much higher upfront cost but extremely cheap energy for at least 50 years after they are built.
They will never do the right thing. This country is a lost cause.
Privatised core services are inherently a rip off. That's why we saw 100% inflation in energy bills in 12 months. Not to mention that any kind of investment or upgrade is left for the taxpayer to pay for on top. A public stake in GB energy will be good for British energy independence and good for bills.
No, I say the real problems are national pricing and grid congestion issues, unless you have a viable plan to fix them in the long term, more renewable won't help bring down the energy price. It seems to me the Labor Party knows nothing about our power grid.
They should also invest in Tidal system and wave power systems too!
We in the UK have the worlds strongest tides so it would be so good to use it in near shore floating units for wave units and under sea fixed on the sea bed tidal units. those systems would be 24 hour 7 days a week 365 days a year strong reliable power no matter the wind and solar were like all thanks to the Moon and wind.
It was Gordon Brown that wasted the most money, he foolishly sold 401 tonnes of gold at the bottom of the market for 3.5 billion pounds, now worth over 21 billion pounds.
the Covid hashup was well over 4x that amount! plus they've been literally _giving_ our money to their mates for 14 years straight!
He didn't just hide a pile of money under the mattress. It was invested in US treasury bonds, which have performed just as well.
This is exactly what we need. Take back the power. Go Ed!
Just fit them to EVERY rooftop of EVERY house and building... Job done... Oh wait... That would mean we - the consumer - would actually benefit from them financially... Couldn't possibly have that
if he said it was raining i'd still go outside and check
Is solar and UK a bit counterintuitive. It rains almost 80% of the year in UK.🤷
UK 4 and All we recognize that when we click the thumbs up for you, the funds you get doesn't come from our pockets. RUclipsVEVO gives you funds from their 'unlimited 'endorsements. I am just a person, a fan of some of what you create saying, I am proud of You and RUclipsvevo, You all are Lights for the World 🎉. -Esther
Putting money in the coffers of the Royal family and other big landholders?
We need to invest in energy storage, if we are going to use intermittent energy sources
That might be difficult, labour have only been in office two weeks and they've already run out of our tax money
Any government could say that X amount of gas is needed from the North Sea for a specific (fair) price since these are unusual circumstances, then the rest can be taken to the European gas market for profit. In the meantime the state could invest in strategic energy diversity, etc.
As an inventor and made my own off grid electric system that powered my house. I would just use solar panels on peoples houses or out buildings. My turbine never turned much. This way you don`t need extra cables. I use the spare power to heat the water tank. It heats up a sink full or a shower in an hour for under £2000. The government does not want you to become a non user of the grid. OK you need it in the winter with solar but for nine months of the year you can become free from the grid.
If you're just heating water solar-thermal is both much cheaper & much more effective. You can buy the kit from China where it's commonplace, they even use it in the far north, near the Siberian border.
Looks promising. Refreshing to see some ideas starting to get implemented.
They will do the same as the oil and gas,won't spend own money to develop it,will only involve foreign money and dividends for overseas share holders in development companies! Big con!
And again, northern ireland is left out again. When is the UK government going to realise there 4 countries why is it always about great Britain only if they don't then they should give northern ireland the money per person being spent in England and Wales.
Good point. It's somewhat rural to, isn't it ? And has relatively large amount of coastoine. Should be great for this sort of project. Let the Irish have cheaper electricity to boot and show the way.