Legislation for Britain’s new publicly-owned energy company - Great British Energy - has passed through Parliament.

Great British Energy will invest in clean power projects across the UK as part of the government’s Plan for Change to become a clean energy superpower.

Backed by £8.3bn over the course of this parliament, the company will speed up the delivery of strategic energy projects and invest alongside the private sector to get new technologies like floating offshore wind up and running as part of the government’s modern Industrial Strategy.

Energy secretary Ed Miliband said: “Great British Energy comes from a simple idea: British people should own and benefit from our own natural resources.

“We are giving people a stake in clean energy and delivering profits for the British people. As part of our Plan for Change, this will make us a clean energy superpower and help bring down energy bills for good.”

Great British Energy chair, Juergen Maier, added: “Great British Energy was created to ensure British people reap the benefits of clean, secure, homegrown energy.

“We now have full backing to scale up the company, crowd in investment, and back clean energy projects across the country.”

The energy secretary will soon outline Great British Energy’s strategic priorities – including which technologies the government expects the company to focus on and how it should consider the public benefits from investment decisions.

The Great British Energy Bill received legislative consent from all three devolved governments, the first bill to under this parliament. This will allow Great British Energy to operate more effectively in every devolved nation and benefit people across the UK.

Neil Sansbury, managing director for the UK and Ireland, Ramboll said: “Ramboll welcomes the launch of Great British Energy as a vital step towards accelerating the UK’s clean energy transition. The commitment to invest in technologies like floating offshore wind and strengthen the UK supply chain aligns closely with our ambitions. We’re pleased to be supporting these efforts with the competencies we have in the delivery of these solutions.

“This initiative is a strong signal of intent – supporting innovation, boosting green jobs, and driving long-term growth through a modern Industrial Strategy. Industry has lacked the firm commitment from government in order to make the investments necessary to build these supply chains.

"The launch of Great British Energy provides this long-needed certainty. We look forward to collaborating closely with industry and government to help build a cleaner, more secure energy future for Britain.”