Public consultation on plans for state-owned Welsh national energy company

The aim is to reduce energy costs for consumers

A public consultation has been launched by the Welsh Government over its plans for a new national energy company.

The publicly-owned company would aim to increase Welsh ownership of energy projects and help communities, businesses and public services make better use of energy produced in Wales.

It would not replace existing energy suppliers or directly set household energy prices. However, increasing Welsh ownership of energy projects, says the Plaid Cymru administration, could help reduce energy costs over time and ensure more money is reinvested in Welsh communities and public services.

Cabinet Minister for Enterprise, Connectivity and Energy, Adam Price, said: “Wales has huge potential to generate clean energy from our natural resources.

“We want to make sure the benefits of that energy are felt by people and communities across Wales, both in jobs and growth but eventually in lower bills too.

“Wales is on the verge of a second (or another) energy revolution and this time we want to make sure we keep more of the benefits here.

“This consultation is about how we can build a stronger Welsh energy sector, support local ownership and create lasting value for future generations. It’s about cheaper, cleaner energy that is made and owned in Wales.

“We want to hear from people, communities, businesses and organisations across Wales about how this company should work and what it should deliver.”

The consultation is open to November 30th this year.