Andy Burnham to unveil public body to invest in electricity grid

Andy Burnham is expected to announce the creation of a new public entity, Great British Grid, during his first speech as Labour leader. The company aims to speed up electricity grid connections by increasing competition, helping to lower energy costs in the UK within ten years. Labour plans for this initiative to support and co-invest in connection projects alongside existing private companies, funded from the budget of GB Energy. The transition to renewable energy sources will require extensive upgrades to the aging transmission grid, with an estimated investment of £70 billion between 2025 and 2031.