Great British Energy Act 2025 Great British Energy 1 1 The Secretary of State may by notice designate a company as Great British Energy. 2 A company may be designated under this section only if— a it is limited by shares, and b it is wholly owned by the Crown. 3 A notice under subsection (1) — a must specify the time from which the designation has effect, and b must be published by the Secretary of State as soon as reasonably practicable after the notice is given. 4 The designation of a company terminates— a if the company ceases to be wholly owned by the Crown, or b if the Secretary of State revokes the designation by notice. 5 A notice under subsection (4) (b) — a must specify the time from which the revocation has effect, and b must be published by the Secretary of State as soon as reasonably practicable after the notice is given. 6 For the purposes of this section a company is wholly owned by the Crown if each share in the company is held by— a a Minister of the Crown, b a company which is wholly owned by the Crown, or c a nominee of a person falling within paragraph (a) or (b) . 7 Great British Energy is exempt from the requirements of the Companies Act 2006 relating to the use of “limited” as part of its name. 8 In this section — “ company ” means a company registered under the Companies Act 2006 ; “ Minister of the Crown ” has the same meaning as in the Ministers of the Crown Act 1975 (see section 8(1) of that Act). Crown status 2 1 Great British Energy is not to be regarded as a servant or agent of the Crown or as enjoying any status, immunity or privilege of the Crown. 2 Great British Energy’s property is not to be regarded as property of, or property held on behalf of, the Crown. Objects 3 1 Great British Energy must secure that its articles of association contain a statement of its objects. 2 The statement must provide that Great British Energy’s objects are restricted to facilitating, encouraging and participating in— a the production, distribution, storage and supply of clean energy, b the reduction of greenhouse gas emissions from energy produced from fossil fuels, c improvements in energy efficiency, d measures for ensuring the security of the supply of energy, and e measures for ensuring that slavery and human trafficking is not taking place in its business or supply chains, (including through projects involving or benefiting local communities). 3 In this section — “ clean energy ” means energy produced from sources other than fossil fuels; “ distribution ”, in relation to clean energy, includes its conveyance and transmission; “ fossil fuel ” has the meaning given by section 32M of the Electricity Act 1989 ; “ greenhouse gas ” has the same meaning as in the Climate Change Act 2008 (see section 92 of that Act). Financial assistance 4 1 The Secretary of State may provide financial assistance to Great British Energy. 2 Financial assistance under this section may be provided in any form and in particular may be provided— a by way of grant, loan, guarantee or indemnity, b by the acquisition of shares or any other interest in, or securities of, a body corporate, c by the acquisition of any undertaking or of any assets, d pursuant to a contract, or e by incurring expenditure for the benefit of Great British Energy. 3 Financial assistance under this section may be provided subject to any conditions the Secretary of State considers appropriate. 4 The power to provide financial assistance under this section is in addition to (and does not limit or replace) any other power of a Minister of the Crown to provide financial assistance. 5 “ Minister of the Crown ” has the same meaning as in the Ministers of the Crown Act 1975 (see section 8(1) of that Act). Strategic priorities and plans 5 1 The Secretary of State must prepare a statement of strategic priorities for Great British Energy. 2 The Secretary of State must comply with subsection (1) within the period of six months beginning with the day on which this Act comes into force. 3 The Secretary of State may revise or replace the statement. 4 The Secretary of State must lay a copy of the statement, and of any revised or replacement statement, before Parliament. 5 The Secretary of State must not, without the consent of the Scottish Ministers, include in a statement under this section anything which concerns a matter provision about which would be within the legislative competence of the Scottish Parliament, if contained in an Act of that Parliament. 6 The Secretary of State must not, without the consent of the Welsh Ministers, include in a statement under this section anything which concerns a matter provision about which would be within the legislative competence of Senedd Cymru, if contained in an Act of the Senedd. 7 The Secretary of State must not, without the consent of the Department for the Economy in Northern Ireland, include in a statement under this section anything which concerns a matter provision about which— a would be within the legislative competence of the Northern Ireland Assembly, if it were contained in an Act of that Assembly, and b would not, if it were contained in a Bill in the Northern Ireland Assembly, result in the Bill requiring the consent of the Secretary of State under section 8 of the Northern Ireland Act 1998 . 8 Great British Energy must secure that its articles of association provide for it— a to publish and act in accordance with strategic plans which reflect the Secretary of State’s statement, and b to update those plans whenever the Secretary of State revises or replaces the statement. Directions 6 1 The Secretary of State may give specific or general directions to Great British Energy. 2 Great British Energy must comply with the directions. 3 Before giving a direction the Secretary of State must consult— a Great British Energy, and b such other persons as the Secretary of State considers appropriate. 4 The Secretary of State must publish and lay before Parliament any directions given to Great British Energy under this section . Reviews of Great British Energy’s effectiveness 7 1 The Secretary of State must appoint an independent person to carry out reviews of the effectiveness of Great British Energy. 2 In carrying out the review, the independent person must have regard to the statement of strategic priorities prepared by the Secretary of State under section 5 (1) . 3 After each review, the independent person must— a prepare a report of the review, and b submit the report to the Secretary of State. 4 On receiving a report, the Secretary of State must— a send a copy of the report to the Scottish Ministers, the Welsh Ministers and the Department for the Economy in Northern Ireland, and b no less than 14 days after complying with paragraph (a) — i publish the report, and ii lay a copy of the report before Parliament. 5 The first report must be submitted to the Secretary of State within the period of 5 years beginning with the day on which this Act comes into force. 6 Subsequent reports must be submitted to the Secretary of State at intervals of not more than 5 years. 7 In this section, references to an “independent person” are to a person who appears to the Secretary of State to be independent of— a the Secretary of State, and b Great British Energy. Annual accounts and reports 8 1 Great British Energy must, as soon as reasonably practicable after its directors comply with section 441 of the Companies Act 2006 in relation to a financial year, deliver to the Secretary of State a copy of the accounts and reports required to be delivered to the registrar for that financial year in accordance with that section . 2 The Secretary of State must lay a copy of those accounts and reports before Parliament. Sustainable development 9 Great British Energy must keep under review the impact of its activities on the achievement of sustainable development in the United Kingdom. Extent, commencement and short title 10 1 This Act extends to England and Wales, Scotland and Northern Ireland. 2 This Act comes into force on the day on which it is passed. 3 This Act may be cited as the Great British Energy Act 2025.