The government will create a single state energy company

The British government is planning to create a state-owned energy grid management company. That's Sky News.

Prime Minister Andy Burnham will make a statement at the Labour Party convention in Liverpool. The new structure, called the Great British Grid, comes 36 years after Margaret Thatcher began privatizing electricity.

According to Burnham, privatization has led to a lack of investment and a slowdown in development. He is confident that the state-owned company will help connect consumers to networks faster and reduce costs.

The Prime Minister stressed that the British pay for energy one of the highest prices in Europe. He promises to reform the market so that it works in the public interest.

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