UK's New State Energy Company Will Spend £1 Billion on Grants
The UK's new state-owned energy company plans to spend about £1 billion ($1.4 billion) on grants, carving out a significant chunk of the taxpayer money it receives.
The government announced it was setting up Great British Energy last year, saying the firm would own and run clean-energy assets. It's part of a bet that the state needs to play a bigger role to reach UK climate goals and help bring down energy bills. But there's been little clarity on how the company will actually operate and where it will allocate funds.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Washington Post
43 minutes ago
- Washington Post
Here's how to bolster Social Security
The June 19 news article 'Social Security could be insolvent by 2033' added to the fearmongering that's unfortunately ever-present in the Social Security conversation. Today, Social Security's trust funds have a combined reserve of $2.7 trillion, and spending has exceeded revenue since 2021. Yes, if nothing changes, in 2033, Social Security benefits will automatically be slashed by 23 percent. Though that is a meaningful reduction, it represents neither bankruptcy nor insolvency.
Bloomberg
an hour ago
- Bloomberg
Starmer Swings From Defiance to Deal-Making to Save Welfare Bill
Keir Starmer has pivoted to deal-making mode in a bid to stave off a damaging defeat on welfare cuts that are key to his chancellor's efforts to balance the UK books. When the prime minister first learned that over one hundred of his own Members of Parliament supported a plan to kill his government's bill implementing the changes to disability benefits, he was defiant, according to people familiar with the matter, who spoke anonymously about discussions that took place behind close doors.
Bloomberg
an hour ago
- Bloomberg
Anna Wintour Steps Down as Vogue Editor-in-Chief, Times Reports
Anna Wintour is stepping down from her role at American Vogue as the magazine's editor-in-chief, The Times of London reported. Wintour announced her decision in a staff meeting yesterday. The publication will be seeking a new head of editorial content, according to the report.
