Labour minister probably regrets spewing nonsense about ‘Great British Energy’

Chief secretary to the prime minister Darren Jones most likely regrets travelling to Scotland only to spew nonsense about ‘Great British Energy’ (GB Energy). That’s because the Bristol North West MP was swiftly taken down on social media.

“Misinformationy”

A social media user pointed out the hole in Jones’ claim that GB Energy will solely generate publicly owned energy:

This is a bit ‘misinformationy’

Great British Energy does NOT generate energy.

It’s a government-owned investment vehicle using taxpayers’ money to fund private energy projects.

We carry the risk, corporations get the profit and own the assets.

Fixed it for you Darren. https://t.co/9RlqLRavQ2

— Bernie (@Artemisfornow) October 15, 2025#

The government has admitted that GB Energy will de-risk investment in renewables for the private sector. Meaning, the wealth extractors will largely benefit:

Its initial priority will be to co-invest in leading edge energy technologies where this can de-risk and unlock private sector investment.

Another Twitter user took down Jones. They noted that GB Energy essentially gives the profiteering energy sector the appearance of public good:

The purpose of Great British Energy is to undermine the idea of a publicly owned energy company. Nothing else.

Doesn’t own infrastructure. Doesn’t generate energy. Doesn’t retail it either. Literally just a golden money pipeline to the private sector & foreign investment funds. https://t.co/pHgBBBoiKr

— Marl Karx (@BareLeft) October 15, 2025

Labour is failing to nationalise the energy distribution infrastructure, which is a natural monopoly. Instead, we will continue to rent the infrastructure from private companies like UK Power Networks. From 2018-2022, UK Power Networks made profits of £2.4bn through renting us a distribution service we could own ourselves.

Indeed, GB Energy will not supply power to homes, but will invest in renewable energy projects.

In a briefing, the government does say:

Great British Energy will increase domestic clean energy production and public ownership of clean energy assets, build stronger UK supply chains, create jobs, and drive long-term growth of the local and community energy sector – ensuring the public benefits from the energy transition.

And on the GB Energy website it reads that the vehicle will:

ensure communities have a direct stake in local energy projects.

But what stake that will be remains to be seen. And ultimately, for-profit companies will own most of the energy system. That means the main function of GB Energy is to prop up wealth extraction from a common essential.

Narrow minded neoliberal approach

It looks like the Labour Party is sleeping at the wheel when it comes to the climate crisis and the additional benefits of solving it. One report estimates that through an investment of £69bn the government could create 1.2m green jobs in just the first two years. And we are already over one year into this parliament. Instead, the government has said it will issue £8bn to GB Energy – far short of the amount necessary. And well below what Labour initially pledged, which was an investment of just £28bn.

On top of jobs and stopping climate breakdown, renewable energy would greatly reduce energy bills. But GB Energy looks like a token effort that is no where near the scale we need. In 2023, the average price per unit of electricity in the UK was £127 per MWh. A renewable energy system could deliver the same at costs as low as £55 per MWh. Over time, a Green New Deal would pay for itself.

More benefits still could be achieved through public ownership of the renewable system, removing profit from the everyday essential of energy. This would also create a national, for public good monopoly that could further bring down prices through larger scale purchasing of materials. Cheaper energy would help control inflation through shielding people from volatile international gas markets and keeping prices low for all people and businesses.

A full scale Green New Deal is a no-brainer, while Labour is offering crumbs.

Featured image via the Canary