Shadow energy secretary pledges to scrap GB Energy and repeal net zero target

The Conservative party has confirmed it would dismantle the national energy company Great British Energy if it secures victory at the next general election. Andrew Bowie, who recently assumed the role of shadow energy secretary, stated that the organisation would be the first target for abolition upon taking power. He described the entity, which has been allocated eight billion pounds in funding, as a vanity project and a complete white elephant that has failed to deliver meaningful results since its establishment.

In an interview with Energy Voice, Bowie outlined his primary priorities for the shadow cabinet, identifying the cost of energy, North Sea development, and nuclear power as the central pillars of the party’s strategy. He contrasted the Conservative approach with the current government’s stance, noting that energy secretary Miatta Fahnbulleh remained silent on approvals for the controversial Rosebank and Jackdaw oil and gas fields during her address at the Labour Party conference. Bowie indicated that the Conservative conference in Birmingham next month would feature a series of announcements, positioning the party as more decisive in its energy policy.

Bowie criticised the government for what he termed negligence in delaying decisions on the Jackdaw and Rosebank fields. He argued that gas imports are unreliable and that the lack of a decision mid-September was unjustified. He claimed that the national energy company’s investments have been limited to delivering a small number of solar panels to schools and consenting a single wind farm, achievements he suggested the private sector could have accomplished more quickly and cheaply. Furthermore, he disputed the company’s impact on employment in Aberdeen, stating that only a small number of positions have been created while thousands of jobs in the oil and gas sector have been lost in the same region.

The shadow energy secretary also confirmed that party leader Kemi Badenoch intends to repeal the UK’s legally binding 2050 net-zero target. Bowie stated that the Conservative party would scrap the Climate Change Act in its entirety, arguing that the current target places an undue burden on industry and disincentivises investment. He contended that a focus on a wholly renewable energy system is hindering innovation and that a more pragmatic approach involving new gas and nuclear capacity could achieve a cleaner grid more effectively. He acknowledged the party’s belief in climate change but maintained that the specific net-zero framework is not the correct method for addressing it.

Additional policy proposals include removing the ban on new North Sea oil and gas licences from the forthcoming Energy Independence Bill and eliminating the windfall tax on energy profits. Bowie cited predictions that energy prices may return to near-record levels in January, comparable to the spike following the Russian invasion of Ukraine in 2022. He argued that the current policy environment is driving energy-intensive industries, such as brick and cement manufacturers, out of the UK, leading to deindustrialisation. The party aims to reduce average energy bills by 220 pounds a year and to attract private nuclear investment to the UK.

Bowie referenced a recent report by the think tank Onward, which he said provides a foundation for the party’s energy policies by benchmarking the cost differences between a wholly renewable system and a broader energy mix. While noting that the report is not the official Conservative plan, he indicated that many of its elements would be adopted. He defended the party’s stance on electrification by highlighting the UK’s rapid decarbonisation compared to other G20 nations, while warning that the current cost of renewable infrastructure is prohibitive for investment and does not significantly impact global emissions. He urged a cost-effective approach to electrification to ensure the UK remains competitive in the global energy market.