Offshore wind will power the UK across the 21st century, transforming our lives and industry. This report provides the first ever breakdown of who owns existing UK offshore wind installations. We reveal that the resource is predominantly controlled by foreign or private companies. The UK public is missing out on a huge opportunity to secure revenues and jobs for decades to come, and Labour could lead with a vision for Public Offshore Wind.
With the energy sector being dominated by just a few major players it is clear that diversifying ownership within the sector is much needed if we are to deliver a just and rapid transition. This is why Labour proposed taking energy back into public ownership through the creation of publicly owned, locally accountable energy companies and co-operatives. This report now provides a thoughtful analysis of the current breakdown of ownership – and a selection of ideas for policy makers to consider in relation to what future diversification of ownership in the sector could look like.