PM Andy Burnham has unveiled plans to ‘reform a broken energy market’.

PM Andy Burnham has unveiled plans to 'reform a broken energy market'.

"Today, I can announce our plan for Great British Grid, a new branch of Great British Energy, a publicly owned company that will challenge the private sector operators.

The stated purpose is threefold: increase competition, drive down costs, and speed up grid connections, with the economic rationale that faster connections will allow businesses to "expand and grow more quickly."

Yselkla Farmer, CEO of BEAMA, said:

"The plan for the Great British Grid recognises the needs for urgent investment. But what we cannot afford is a protracted process or uncertainty over where the funding goes. Delivery must start now to stimulate the structured growth the energy sector is planning for.

"Investment is needed from top to bottom, from transmission through to distribution, to ensure that electrification can progress at the pace we need it to. Delivering that investment also means giving the manufacturers who supply the networks the confidence to scale up. And that comes from clarity of where the investment will go.

"Later this month, BEAMA and ENA will publish a Growth Plan for electricity networks. It will set out the principles for long-term grid investment that will deliver social value, support the supply chain and create the workforce we need to deliver growth. Any plan that accelerates electrification and is firmly rooted in these supply-chain principles has BEAMA's support."