‘With Great British Energy, we will close the door on Putin’, says Starmer

Keir Starmer will today (Tuesday) warn of the national security threat to Britain that comes with the continued dependence on energy from rogue foreign states, saying that with Labour, Britain will close the door on overseas fossil fuel dependency.

Speaking ahead of the first leaders' debate, in which Starmer will emphasise the choice at this election is five more years of Tory chaos or change with Labour, Starmer has warned that “energy policy is now a matter of national security” and that “Rishi Sunak's political collapse on energy security risks leaving Britain over a barrel”.

In a call to action to voters, he will say that time's up on the political weakness which ‘opens our front door to Putin', arguing that ‘heating our homes should not mean we accept dependence on Russia'.

It comes as new analysis - based on Office for Budget Responsibility data - reveals the cost of 5 more years of Conservative chaos could leave taxpayers footing a bill as big as £68 billion, if the UK remains dependent on international energy markets. This would amount to a repeat of the £940 annual spike in energy bills that occurred under the Tories. OBR analysis also found repeated crises would add hundreds of billions to debt by 2050.

The Labour leader will today meet pensioners in the North West of England to hear from them on the impact of the energy crisis, bringing the debate on national energy security closer to home.

Speaking ahead of ITV's first general election debate, with the future of energy security and bills a key decision facing voters at this election, Keir Starmer said:

“With Great British Energy, my changed Labour Party will close the door on Putin. 

“Energy policy is now a matter of national security. It is a key component of our country's resilience and capacity to weather future shocks. We simply cannot afford to remain as vulnerable to price spikes as we have been in the past. 

“Keeping the lights on and heating our homes should not mean leaving our front door open to Russia.

“Rishi Sunak's political collapse on energy security, which has seen him turn his back on Britain becoming a clean energy superpower, risks leaving Britain over a barrel. 

“It's time for change. Labour will create a publicly owned clean energy company to power Britain's future energy security - taking control of our energy supply to bring down bills.”

Labour's plan for Great British Energy

Labour's plans to set up Great British Energy will help to make the UK a clean energy superpower by investing in clean power that is substantially cheaper than the current energy we import. The plan is fully funded and fully costed and with the party's commitment to rule out increases in national insurance, VAT and income tax, it will bring down bills for hard-pressed families. 

Labour's plans will help families to save up to £300 on their average energy bills every year from 2030, ensuring a permanent and sustainable end to the cost of living crisis.

In contrast with Labour's pragmatic plan to secure the UKs energy supply and cut bills, Rishi Sunak's Conservatives are gambling with family finances by opposing investment in homegrown clean energy, as new analysis finds that families could face a £940 annual spike in bills if the UK faces the sort of energy crisis in the second half of the decade that rocked the country in the first.

Ends.

Notes to editors:

1 – The Tories left Britain exposed by failing to secure our energy.  

The Conservatives have blocked clean, homegrown power, holding back efforts to build cheaper and more secure forms of energy. 

Onshore wind: The Tory onshore wind ban has raised bills by £180 a year for every family in England and resulted in 7GW of lost capacity since 2015. (https://x.com/DrSimEvans/status/1650848491453792260)  

Warm homes: In 2013 the coalition government cut energy efficiency programmes, causing insulation rates to fall by 92 per cent. 9 million households are paying hundreds more in energy bills as a result. (https://www.theccc.org.uk/publication/2023-progress-report-to-parliament/) 

Nuclear: The last Labour Government gave the go-ahead for new sites in 2009, but under the Tories none are up and running, denying us clean, reliable power. (https://www.bbc.co.uk/news/uk-politics-11564152) 

Gas storage: The choice to close Rough gas storage – before being forced to reopen it years later – has cost Britain £1.7 billion across last year and this year. 

Offshore wind: The Conservatives crashed the offshore wind market with last year's failed Contracts for Difference auction, costing billpayers £1bn a year. 

https://twitter.com/ECIU_UK/status/1699754288287830310 

2- British families have paid an additional £1880 on their energy bills over the last two years. 

A dual fuel household with typical levels of consumption on the direct debit price cap/Energy Price Guarantee would have paid £1,880 more between April 2022 and March 2024 than if prices and standing charges had remained at their April 2021 to March 2022 levels. (Figures from House of Commons Library.) This is an average of £940 more per year for a typical household. 

3 – The OBR has warned that this could happen again. 

The Office of Budget Responsibility warns that as long as we remain dependent on international energy markets, we risk similar shocks that could cost taxpayers 2-3% of GDP per year, and that recurring gas price spikes could add 13% of GDP to the national debt by 2050. 2-3% of GDP is £45-68bn. Source: https://obr.uk/frs/fiscal-risks-and-sustainability-july-2023/   

With those future energy shocks, families could face up to £940 annual spike in additional energy costs if the UK faces the sort of price spikes in the second half of the decade that rocked the country in the first half. 

4 - Rishi Sunak has no plan to make Britain energy secure. 

In a civil service memo released as part of the recent High Court climate case, officials warned in 2023 that Russia's invasion of Ukraine had shown fossil fuels are an ‘insecure, high-risk energy source' and that the clean energy transition will ‘help to mitigate fiscal shocks caused by a reliance' on them. Source: https://friendsoftheearth.uk/climate/high-court-judgment-governments-climate-plan 

The Climate Change Committee and National Audit Office say Rishi Sunak doesn't have a plan to deliver his 2035 clean power target. Sources: https://www.theccc.org.uk/wp-content/uploads/2023/06/Progress-in-reducing-UK-emissions-2023-Report-to-Parliament-1.pdf https://www.nao.org.uk/reports/decarbonising-the-power-sector/  

5 – Only Labour has a plan to cut bills for families.

As a first step Labour will launch Great British Energy to take back control of our energy supply producing cheaper power for our country, and ensuring that profits go back into our communities. 

Headquartered in Scotland, Great British Energy will invest in cheap, clean, homegrown energy, to cut bills for families, and ensure that jobs and supply chains are built here in the UK, rebuilding the strength of British industry.  

It will have an initial capitalisation of £8.3 billion over a Parliament, paid for by a proper windfall tax on oil and gas giants.  

The £3 billion GB energy local power plan alone will generate 8GW of clean power within five years.

Great British Energy is part of our mission to make Britain a clean energy superpower by 2030- helping families save £300 per year off their energy bills, boosting our energy independence, and creating 650,000 good jobs.