GB Energy is a UK Government-owned investment vehicle for energy projects.
A pledge to set the company up in Scotland formed a key plank of Labour's offer to the country during the General Election, but the details of what it will actually do have proven fuzzy.
The Government has said it will back the company with £8.3 billion over the course of this Parliament, but that has also been called into question amid Labour's cuts across the board.
Read on for all the latest GB Energy news, interviews and updates.
Latest GB Energy news
GB Energy Bill receives royal assent and becomes official act
I asked Aberdeen residents about GB Energy – and one thing was clear
UK Government to increase Scottish presence with new 'energy campus'
What is GB Energy?
GB Energy is a publicly owned company Labour set up after winning the General Election in 2024. It is intended to help the development of clean energy to accelerate the decarbonisation of the electricity grid.
The Department for Energy Security and Net Zero said it would “strategically develop, invest in and ultimately own clean energy assets”. This ranges from national projects to community generation projects.
Labour had said that the company would generate and sell energy, but this was later retracted, with Keir Starmer saying it would actually be an "investment vehicle".
During the election, Labour pledged that they would cut household energy bills by £300 through the new company.
However, since last July, the average customer has seen their energy bills rise by £170, and millions of Scottish households have seen their bills increase more since April 1 after Ofgem increased its price cap for a third consecutive quarter.
As of March this year, GB Energy does not formally have any employees.
GB Energy headquarters
GB Energy will be headquartered in Aberdeen, with two additional sites set to open in Edinburgh and Glasgow once the firm is up and running.
The company will be located in government buildings in these cities while permanent bases are established.
Prime Minister Kier Starmer said last September that "the future of British energy will be powered, as it has been for decades, by the talent and skills of the working people in the Granite City with GB Energy based in Aberdeen."
Despite the repeated pledges that GB Energy would be run from Scotland, its chair, Juergen Maier, is based in England.
GB Energy CEO
Dan McGrail is the interim chief executive officer for GB Energy.
He will be seconded for six months from his position of chief executive at RenewableUK, the trade association for green energy companies.
McGrail works at the Aberdeen office on an "initial" short-term contract which started in March.
The UK Government has reportedly struggled to find anyone willing to run the company given they will need to take a civil service salary (likely a step down from private sector wages) and move to Aberdeenshire to fulfil Labour's pledge.
