A Labour Government in the UK: Policy Impacts on the Power Sector

Report Summary:

The UK's Labour Party, is positioned to win the country's General Election on 4th July and lead parliament for the first time since 2010. Its victory would end a Conservative reign extending over the previous four elections. Energy policy is near the top of British voters' minds following electricity and gas price spikes triggered by Russia's 2022 invasion of Ukraine. Labour has vowed to make Great Britain a "Clean Energy Superpower" by accelerating the power market's transition to Net-Zero by 2030. Here we consider the implications of increased renewable power capacity targets, accelerated electrification, and direct government-led investment in the market.