Keir Starmer 'struggling' to deliver key manifesto pledge as he nears 1 year in power

As we approach the one-year mark of Starmer’s Britain, he is struggling to deliver on his key manifesto pledge of lowering energy bills, with the energy price cap up nearly 10% in the past year.

Sam Hall | Director

As tensions in the Middle East intensify, we do need to produce more energy domestically. Additionally, costly gas prices set our wholesale electricity prices 97% of the time, hurting industry and households. Therefore, more domestic renewables and nuclear - with gas as back-up for when the wind doesn’t blow - is the right goal.

But this more secure and affordable energy future won’t be achieved with Labour’s top-down, inefficient approach.

They have set a goal of fully decarbonising the grid by 2030.

But even the Climate Change Committee wasn’t calling for this. It was more about virtue signalling than energy security or climate action.

By rushing to achieve this deadline, they are short-changing communities, as residents in areas expected to host new infrastructure won’t receive enough direct, tangible benefits that recognise the impact on their areas.

This is causing resentment and making rural communities suspicious of developers, potentially holding up future infrastructure and adding costs.

The target also encourages a short-termist approach to energy. Instead of allowing time for new factories to be established here in the UK with a balanced transition, Labour are relying on imported parts for their renewables projects, offshoring potential jobs for British workers.

Although recent funding announcements on the Sizewell nuclear power station are welcome, the target has led to slow-pedalling on the nuclear programme more widely, particularly on streamlining expensive and unnecessary red tape for new projects.

Finally, Labour has wasted scarce taxpayers’ money on funding some of these projects through GB Energy. Private money is more than willing to invest in renewables; we should let the market take the lead and save taxpayers’ money.

Labour’s energy policies are making energy prices higher, not lower. To reduce bills, we need a market-led approach instead.

That means getting out the way of private investment by offering tax breaks for green factories inside freeports, giving discounts on energy bills to communities hosting new clean energy infrastructure, and streamlining regulations for offshore wind and nuclear power stations.

This will help deliver the cheaper, cleaner energy Britain needs and deserves.

First published by CityAM. Sam Hall is Director of CEN.