Skip to main contentThe new government unveiled a list of Bills it plans to introduce into Parliament, as delivered in the King’s Speech on Wednesday 17th July.
With a focus on economic growth, the green and net zero agenda featured heavily in the government’s legislative plans.
Water (Special Measures) Bill
This Bill will give Ofwat, the water regulator, greater powers to hold water companies accountable for breaches of the law on water quality. Key provisions include:
- A ban on the payment of bonuses if environmental standards are not met.
- A new code of conduct for water companies to ensure accountability.
- Automatic fines for breaches.
- Installation of real-time monitors at every sewage outlet, with data inspected by water regulators.
Additionally, the government plans to introduce separate legislation to “fundamentally transform our water industry and restore our rivers, lakes, and seas to good health.”
Great British Energy Bill
A new publicly owned company, GB Energy, will develop, own, and operate clean power projects to help achieve the government’s goal of clean power by 2030. Key points include:
- £8.3bn of public funding allocated to GB Energy, including £1.2bn from raising the windfall tax on oil and gas companies.
- GB Energy will not supply electricity to households but will invest alongside private companies to cut the average household bill by £300 a year.
Much of this plan was previously outlined in the Labour Manifesto. More information is available in our post-election article here.
National Wealth Fund Bill
Alongside GB Energy, the National Wealth Fund (NWF) will play a crucial role in achieving clean power by 2030. The NWF will:
- Make public-private investments in key infrastructure and clean energy.
- Align with UK Infrastructure Bank (UKIB) and the British Business Bank.
- Be capitalised with £7.3 billion for investment in priority sectors as outlined in the Manifesto.
- Aim to generate £3 of private sector investment for every £1 it invests.
The Crown Estate Bill
This Bill aims to reform the Crown Estate, which owns the seabed of England and Wales, to allow it to borrow and invest more widely. It seeks to:
- Unlock significant investment in public infrastructure, particularly in offshore wind.
- Support Labour’s mission to decarbonise the UK power system by 2030, including plans to double onshore wind, triple solar power, and quadruple offshore wind capacity.
- Implement 20-30 gigawatts of new offshore wind seabed leases by 2030.
Sustainable Aviation Fuel (Revenue Support Mechanism) Bill
To support sustainable aviation fuel (SAF) production in the UK and decarbonise air travel, this Bill proposes:
- Setting targets for fuel suppliers to include at least 10% SAF in their fuel mix supplied to airlines.
- Encouraging the construction of SAF plants in the UK.
- Secure a supply of SAF for the UK aviation sector.
Associated greenhouse gas emissions are 70% lower than fossil jet fuel on a life cycle basis. Currently, planes can use up to 50% SAF under existing rules.
Looking ahead
We will monitor the progress of these proposals as they work their way through the parliamentary process and provide updates on any legislative changes that could affect your business’ carbon and energy strategy.
For help and support in your net zero journey, read more about Envantage’s carbon road map programme.
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