Ministers set out plans for new publicly-owned energy company

Nation.Cymru staff

People across Wales are being asked for their views on plans to create a new publicly-owned national energy company which ministers say could eventually help cut bills.

The Welsh Government has launched a consultation on proposals to bring existing public energy organisations together into a single company designed to increase Welsh ownership of renewable energy and keep more of the economic benefits generated in Wales.

The proposed company would aim to develop a stronger publicly-owned energy sector, with revenues from projects reinvested in communities and public services.

Ministers say Wales has some of the best renewable energy resources in Europe but want a greater share of the financial benefits from their development to remain in the country.

The company would also work with communities, businesses and public services to help them make greater use of energy generated in Wales.

However, it would not replace existing energy suppliers or directly control the prices households pay for gas and electricity.

The Welsh Government says greater Welsh ownership of energy projects could nevertheless help reduce costs over the longer term, while retaining more of the income generated by the country’s energy resources.

‘Huge potential’

Cabinet Minister for Enterprise, Connectivity and Energy Adam Price said: “Wales has huge potential to generate clean energy from our natural resources.

“We want to make sure the benefits of that energy are felt by people and communities across Wales, both in jobs and growth but eventually in lower bills too.

“Wales is on the verge of another energy revolution and this time we want to make sure we keep more of the benefits here.

“This consultation is about how we can build a stronger Welsh energy sector, support local ownership and create lasting value for future generations. It’s about cheaper, cleaner energy that is made and owned in Wales.

“We want to hear from people, communities, businesses and organisations across Wales about how this company should work and what it should deliver.”

The proposals come as households continue to face pressure from energy costs.

The Welsh Government says it is investing more than £37m in its Nest scheme this year to help low-income households improve the energy efficiency of their homes.

Other support includes fuel vouchers and heating assistance, while the Claim What’s Yours service helps people establish whether they are eligible for additional financial support.

The Nest advice line is also available to households seeking advice on reducing energy costs and can assess whether people qualify for energy-efficiency measures.

The consultation on the new public energy company will run until November 30.

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