British Gas, Ovo, Octopus customers set to get £300 under Labour government

British Gas, EOn, EDF and Octopus customers are poised to get £300 from Great British Energy. The new Labour Party government has pledged to save households hundreds of pounds on their energy bills as part of their plans to 'harness clean power'.

Sir Keir Starmer's party has put clean energy as one of its central missions for government, in a bid to end high energy bills "for good". Based on what has been published so far, GB Energy aims to “lower energy bills for every household by an average of £300 a year.”

Former Labour leader Ed Miliband has been appointed energy security and net zero secretary in Sir Keir's Cabinet. The manifesto says: “We will shape markets, and use public investment to crowd in private funding. At the heart of our approach will be our Green Prosperity Plan where, in partnership with business through our National Wealth Fund, we will invest in the industries of the future. Our plan will create 650,000 jobs across the country by 2030."

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The manifesto adds: “Families and businesses will have lower bills for good, from a zero-carbon electricity system. We have chosen this mission not because it is easy, but because working people can never again be left vulnerable to dictators like Putin."

Greenpeace UK’s co-executive director, Areeba Hamid, said: "This landslide victory has buried Sunak’s divisive anti-green agenda once and for all and is a powerful call for change. Voters have resoundingly rejected his climate rollbacks and elected a party with a proper plan to turbocharge cheap, clean, renewable energy, promising to slash emissions, lower bills and deliver hundreds of thousands of new green jobs."

The manifesto continues: “We will not issue new licences to explore new fields because they will not take a penny off bills, cannot make us energy secure, and will only accelerate the worsening climate crisis. In addition, we will not grant new coal licences and will ban fracking for good.”