Policy & regulation, News

Proposed company would channel profits into cutting customer bills

Plaid Cymru has pledged to cut the energy bills of customers in Wales by establishing a Welsh energy company.

In its manifesto for the general election, published today (17 May), the nationalist party said the proposed energy company would channel the profits from Wales’ abundant renewable energy into cutting the cost of Welsh consumers bills.

Plaid proposes that the energy company would also support a shift in Wales to decentralised and distributed energy networks. The manifesto also pledges that Plaid would increase energy generation from renewable sources, including the delivery of tidal lagoons in Swansea Bay, Cardiff and Colwyn Bay.

The Welsh nationalists would transfer responsibility over Welsh energy generation to the National Assembly in Cardiff with the goal of achieving self-sufficiency in electricity generation from renewables.

Plaid also pledges the roll out nationwide housing energy efficiency measures and to secure compensation for those who have suffered from badly installed, government-backed cavity wall insulation

In addition, the party says it would introduce a new Climate Change Act, to enshrine “ambitious but achievable” greenhouse gas and pollution reduction targets for 2030 and 2050.

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