Wales reporter

WELSH government proposals for a new public energy company go out for consultation today.

The consultation sets out proposals for a single company to bring together existing energy organisations.

The Welsh government says this will help ensure that more of the economic benefits from Wales’s energy resources flow to people, communities, businesses and public services in Wales.

Cabinet Energy Minister Adam Price said: “Wales has huge potential to generate clean energy from our natural resources and has some of the best renewable energy resources in Europe.

“We want to make sure the benefits of that energy are felt by people and communities across Wales, both in jobs and growth, but eventually in lower bills too. Wales is on the verge of a second — or another — energy revolution and this time we want to make sure we keep more of the benefits here.

“This consultation is about how we can build a stronger Welsh energy sector, support local ownership and create lasting value for future generations. It’s about cheaper, cleaner energy that is made and owned in Wales,” Mr Price said.

However, the company would not replace existing energy suppliers or directly set household energy prices.

Mr Price claimed the proposed company would increase Welsh ownership of energy projects and help communities, businesses and public services make better use of energy produced in Wales.

He said the Welsh government hoped the increasing Welsh ownership of energy projects could help reduce energy costs over time and ensure more money is reinvested in Welsh communities and public services.