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How Will the UK’s State-Owned Energy Company Spend £5.8 Billion?
Dan McGrail, interim chief executive officer of Great British Energy, explains how the company will allocate its budget.
Dan McGrail, left, speaks to Akshat Rathi at the Bloomberg Sustainable Business Summit in London.
Photographer: Chris Ratcliffe/Bloomberg
When the UK handed the Labour party a parliamentary majority last July, it promised to build a new state owned energy company called Great British Energy.
It's almost exactly one year since its creation, and GB Energy now has a budget of £5.8 billion ($7.88 billion) to get the organization off the ground.