We have chosen this mission not because it is easy, but because working people can never again be left vulnerable to dictators like Putin.
We will invest in carbon capture and storage,
hydrogen and marine energy,
We will ensure the long-term security of the sector, extending the lifetime of existing plants, and we will get Hinkley Point C over the line.
while securing thousands of good, skilled jobs.
and the skills of our offshore workforce.
Crucially, oil and gas production in the North Sea will be with us for decades to come,
and the North Sea will be managed in a way that does not jeopardise jobs.
And our offshore workers will lead the world in the industries of the future.
Companies have benefitted from enormous profits not because of their ingenuity or investment, but because of an energy shock which raised prices for British families.
as well as removing the unjustifiably generous investment allowances.
It will be owned by the British people and deliver power back to the British people.
will help support capital-intensive projects;
and will deploy local energy production to benefit communities across the country.
The company will create jobs
and build supply chains in every corner of the UK.
Local power generation is an essential part of the energy mix and reduces pressures on the transmission grid.
Under the Conservatives, the broken energy market has let customers down.
The government has allowed scandalous abuses on their watch, including poor customer service, companies going to the wall with the costs falling on billpayers, and the mass forced installation of pre-payment meters.
Too much of the burden of the bill is on standing charges and we will work with the regulator to reduce them.
We will strengthen the regulator to ensure it can hold companies to account for wrongdoing,
require higher standards of performance,
and ensure there is automatic customer compensation for failure.
The national grid has become the single biggest obstacle to the deployment of cheap, clean power generation
and the electrification of industry.
With grid connection dates not being offered until the late 2030s, important business and infrastructure investment is being stalled or lost overseas.
As Britain becomes a clean energy superpower, Labour is determined that we will create new high-quality jobs,
working with business and trade unions, as we manage the transition.
We will rebuild supply chains at home.
And, as the first major economy to transition to a clean-energy system, we will export the technologies of the future.
We will also secure the future of Britain’s automotive and steel industries.
We will review the unfair surplus arrangements and transfer the Investment Reserve Fund back to members, so that the mineworkers who powered our country receive a fairer pension.
The energy shock of recent years has highlighted the urgent importance of improving energy efficiency in British homes.
The Warm Homes Plan will offer grants and low interest loans to support investment in insulation and other improvements such as solar panels, batteries and low carbon heating to cut bills.
We will partner with combined authorities, local and devolved governments, to roll out this plan.
Labour will also work with the private sector, including banks and building societies, to provide further private finance to accelerate home upgrades and low carbon heating.
Nobody will be forced to rip out their boiler as a result of our plans.
Labour will save families hundreds of pounds, slash fuel poverty,
and get Britain back on track to meet our climate targets.
Our plan will mean good skilled jobs for tradespeople in every part of the country.
British industry is also held back by high electricity costs, which has often made investing here uncompetitive.
Labour’s clean energy mission will drive down those bills, making British businesses internationally competitive
while our National Wealth Fund supports the most energy intensive sectors to decarbonise.
This will protect British industries as we decarbonise,
prevent countries from dumping lower-quality goods into British markets,
and support the UK to meet our climate objectives.
Labour will ensure the institutional framework for policy making reflects our commitments to reach net zero and meet our carbon budgets.
Britain’s world-leading financial services industry has a major role to play in mobilising trillions of pounds in private capital to address the greatest long-term challenge of our age.
Preparing for the future not only means tackling the climate and nature emergencies, but also adapting to the changes they will bring to our environment.
Without action, flooding and coastal erosion will pose greater risks to lives, livelihoods and people’s wellbeing.