Mr Maier said: “Great British Energy will be a publicly-owned national clean energy champion, ensuring British people reap the benefits of clean, secure, home-grown energy.
“I’m excited to lead this company and work with the private sector and communities to rapidly expand skilled jobs and investment across the country.”
On the deal with the Crown Estate, Sir Keir Starmer said: “My Government is laser focused on delivering change, to make people better off. This innovative partnership between Great British Energy and the Crown Estate is an important step toward our mission for clean energy by 2030, and bringing down energy bills for good.”
However energy industry insiders warn that renewable energy remains too expensive, with heat pumps costing three times the price of boilers, and electricity – even from green sources – costing more than the equivalent energy from gas.
From July 1, gas prices have been capped at 5.48p per kilowatt hour with a daily standing charge of 31.41p.
By contrast the cost of electricity is substantially greater at 22.36p/kWh with a daily standing charge of 60.12p. This price difference means gas remains far more attractive as a heating fuel.
Russell Dean, residential product group director at Mitsubishi Electric, said the new Government had to make switching to renewables more affordable.
“With the price of electricity in the UK still higher than that of gas, rebalancing the cost of electricity and gas would make switching to a heat pump more achievable.”