Following the UK general election, the Labour Party's victory signals a significant shift in energy policy under the new government led by Prime Minister Keir Starmer. The administration plans to impose new taxes on North Sea oil producers and establish a national energy company. While no new oil and gas licenses will be issued, existing ones will remain valid. The Energy Profits Levy on North Sea oil and gas will increase by three percentage points, aiming to raise an additional GBP1.2 billion annually. Labour also aims to quadruple offshore wind capacity, lift the ban on onshore wind farms, and expedite the transition to electric vehicles by reinstating the 2030 ban on internal combustion engine car sales. The party's ambition includes achieving a decarbonized power grid by 2030, with a focus on accelerating renewable energy projects using Great British Energy. Labour highlights the importance of nuclear power in ensuring UK energy security and plans to reform electricity markets and improve grid infrastructure. Additionally, the government pledges significant investments in green hydrogen production and carbon capture and storage to support its climate goals. The plan includes financial commitments of GBP500 million for green hydrogen production and an additional GBP1 billion to expedite carbon capture and storage initiatives. Labour also aims to support the UK aviation industry's sustainable future, particularly through the promotion of sustainable aviation fuels. Overall, the Labour government's energy transition plans are comprehensive and ambitious, emphasizing a shift towards renewable energy sources and technologies to achieve climate targets and foster a greener economy.