Thinktank’s warning follow reports that Labour is considering cuts to budget of company it set up to drive renewable power
The government risks “disappointing voters” hoping for cheaper energy bills in the next decade if it cuts the £8.3bn budget for GB Energy, a thinktank has warned.
Researchers at the Institute for Public Policy Research (IPPR) found that the publicly owned energy company – set up by Labour to drive renewable energy and cut household bills – will need to be fully funded if it hopes to build enough clean energy projects to meet 5% of the country’s electricity needs by the 2030s.
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