Keir Starmer says his government would set up 'Great British Energy', a publicly owned energy company to invest in clean UK power. He says this 'ought to bring down household bills by about £400'. Source: Good Morning Britain, ITV
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00:00 How much cheaper will our bills be under a Labour government?
00:04 5%, 10%? What will it mean?
00:08 Well, we want to, as you rightly say, set up Great British Energy.
00:12 That's a publicly funded, publicly owned company,
00:16 which is owned by the taxpayer, making money for the taxpayer,
00:19 by investing in clean British power.
00:21 Now, clean British power is, you know, renewables,
00:26 which is about a third of the price of fossil fuels at the moment.
00:30 And that ought to bring down the household bills
00:33 by about £400 for each bill, but that's a permanent drop.
00:38 This is the big difference, I think.
00:40 Everybody, I think, supports the energy price caps
00:43 because we desperately needed those in the last year,
00:46 year and a half, when the energy prices went through the roof.
00:49 But they're sticking plasters, in a sense.
00:51 They cost a lot of money. They're a short-term fix.
00:55 The long-term fix is to have Great British Energy,
00:59 to invest in clean British power and bring down our bills for good.
01:03 It also gives us a couple of other advantages,
01:05 which is that we have energy security because it's our own energy,
01:09 and so Putin can't put his boot on our throat.