Welsh Government Launch a New Publicly Owned Energy Company

A new publicly owned energy company, Ynni Cymru, has been launched this week via collaboration between Welsh Labour and Plaid Cymru, the majority party in Wales. With a focus on community-owned renewable energy initiatives, the hope is that this new company will support the transition to net zero.

Ynni Cymru will be based at the M-Sparc site in Anglesey, an already existing business park specialising in scientific research.

This collaboration is announced alongside the UK Labour party’s plans for incorporating a publicly owned energy company for the whole country, Great British Energy, should the party win the next election. With a major focus on clean energy, Great British Energy would be based in Scotland and would spearhead the way for the UK’s transition to net zero.

Currently, the Welsh government has announced that £750,000 has been allocated for 11 projects for Ynni Cymru. The payments for which will be made in the form of grants over the next 3 years.

The projects that expect to receive funding over the next few years include Cwm Arian for the “heart of Dyfed power unlocker” project – on the border between Carmarthenshire, Ceredigion and Pembrokeshire and the Dyffryn Ogwen Gynaladwy project in Bethesda, Gwynedd.

Welsh climate change minister, Julie James, comments on the projects and states, “market-based approach to the energy system is not delivering decarbonisation at the scale or pace necessary for the climate emergency.”

She goes on to comment on the community focused approach of the new projects, “local use of locally generated energy is an effective way to support net zero and keep the benefit in our communities.”

Siân Gwenllian, Plaid Cymru’s designated member for the projects, also added, “as we face multiple challenges of a climate crisis and high energy bills, it is more important than ever that we develop renewable energy projects that have local benefit and ownership as a core aim.”

Collaborative work among local communities is just one of the approaches when it comes to the transition to net zero. Welsh Labour have been relatively successful in their ways of tackling the transition, with the opening of this new publicly owned energy company being a testament to their efforts.

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Source
https://news.sky.com/story/publicly-owned-energy-company-launched-in-wales-12933090