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Nearly half of UK offshore wind capacity is controlled by state-owned or majority state-owned foreign entities, according to a new report.
Thinktank Common Wealth shared analysis with Sky News which found that Orsted of Denmark, majority-owned by the Danish government, and Equinor of Norway top the list with 20% and 9% respectively.
They’re followed by state-owned groups in Sweden, Italy, China and France,
The UK came in 12th of the list behind the UAE, Ireland, Germany, Japan and Malaysia.
In 2021 alone, £2.5bn of energy bills paid by UK customers went to foreign state-owned entities.
Common Wealth compiled the stats via publicly available data from Crown Estate.
Public ownership
Director Matthew Laurence told Sky: “Public ownership of renewable power is already widespread in the North Sea – it just benefits other countries.
“It is time we correct that by creating a UK green energy generator: it would roll out clean power infrastructure faster, fairer, and more affordably than the status quo.”
The research found 58% of offshore wind capacity is owned by private businesses, of which a third are UK headquartered.
It said the size of foreign-owned interests is because the UK government only owns a small share in research and innovation incubator Offshore Renewable Energy Catapult, which has a tiny interest in capacity.
Policies
The Scottish Government pledged in 2017 to create a publicly-owned not-for-profit state energy company, though the plans have fallen by the wayside.
Labour has also dropped a pledge to nationalise energy companies and water.
The trades union congress has also mooted a “public energy champion” to invest excess profits into measures like insulation of homes.
It comes as the Labour Party conference is underway in Liverpool, with leader Sir Keir Starmer to deliver a keynote speech on Tuesday about turning the UK into a clean energy “superpower”.
The policy plan includes making the UK the first major economy in the world to generate all of its electricity without fossil fuels.
It comes in stark contrast to new Prime Minister Liz Truss who is pushing ahead with a new North Sea licensing round next month.