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A new, publicly owned energy company has been launched by the Welsh government.

The company is part of the Labour government’s co-operation agreement with Plaid Cymru.

Ynni Cymru will be based at the M-Sparc site on Anglesey and aims to expand community-owned renewable energy initiatives.

Sir Keir Starmer announced in June that Great British Energy – a clean energy company – would be established in the first year of a Labour government in Westminster, with its base in Scotland.

The Welsh government has announced £750,000 has been allocated for a total of 11 projects.

The payments will be made in the form of grants over the next three years.

The Welsh Conservatives have said more should be done to remove barriers to privately owned schemes.

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Climate change minister, Julie James, and Plaid Cymru’s designated member, Siân Gwenllian, visited the Anafon Hydro project in Abergwyngregyn, Gwynedd.

Almost one GWh of electricity is generated each year from its base in Eryri National Park.

The projects which are set to receive funding over the next three years include Cwm Arian for the “heart of Dyfed power unlocker” project on the border between Carmarthenshire, Ceredigion and Pembrokeshire, and the Dyffryn Ogwen Gynaladwy project in Bethesda, Gwynedd.

Julie James said the “market-based approach to the energy system is not delivering decarbonisation at the scale or pace necessary for the climate emergency”.

“Local use of locally generated energy is an effective way to support net zero and keep the benefit in our communities,” she added.

Siân Gwenllian added: “As we face multiple challenges of a climate crisis and high energy bills, it is more important than ever that we develop renewable energy projects that have local benefit and ownership as a core aim.”

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The Welsh Conservatives’ shadow climate minister, Janet Finch-Saunders, said she welcomed the investment but accused Labour and Plaid Cymru of “ignoring the elephant in the room”.

“There are hundreds of watercourses running through privately owned land in Wales,” she said.

“Alongside support for community-owned schemes, the Welsh Government should be removing barriers to privately owned schemes.”

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Politics

Senator Tim Scott pushes for December vote on crypto market bill

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November 19, 2025

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Senator Tim Scott pushes for December vote on crypto market bill

Senate Banking Committee Chair Tim Scott says he’s looking to mark up a crypto market structure bill next month to have it on President Donald Trump’s desk by early next year.

Scott told Fox Business on Tuesday that the committee has been negotiating with Democrats to reach a deal, but accused the party’s senators of stalling.

“Next month, we believe we can mark up in both committees and get this to the floor of the Senate early next year so that President Trump will sign the legislation making America the crypto capital of the world,” Scott said.

Law, Senate, US Government, Bills
Banking Committee Chairman Tim Scott says a vote on the market structure bill could occur in December. Source: YouTube

The House passed the CLARITY Act in July, which outlines the Commodity Futures Trading Commission and the Securities and Exchange Commission’s power to regulate crypto, and the Senate has been working on its own version of the bill.

Republicans on the Senate Banking Committee released a discussion draft on their section of the bill in July and suggested it would marry up with the CLARITY Act, and the Senate Agriculture Committee released its discussion draft on Nov. 10, which left much of the bill up for change.

The Agriculture Committee has jurisdiction over the CFTC, while the Banking Committee oversees the SEC and is leading parts of the bill relating to securities laws. 

Bill will create clear rules and unlock crypto: Armstrong

Coinbase CEO Brian Armstrong said in a video posted to X on Tuesday that he was in Washington, DC, “pushing for market structure legislation,” and noted there had been “a lot of progress.”

“Senate banking is also working nights and weekends to get the next iteration of their text out, so we’ve got a good chance, I think, of a markup for this bill in December, hopefully get it to the president’s desk shortly thereafter,” Armstrong said.

“This would be a big milestone to get crypto unlocked with clear rules in the US, which would benefit all companies,” he added.

Where the bill will go from here

The CLARITY Act was one of three major crypto bills the House passed in July after a 10-hour voting session alongside the GENIUS Act, which aims to regulate stablecoins and the Anti-CBDC Surveillance Act, which outlaws central bank digital currencies. 

Related: Regulator clarifies US banks can handle gas fees using crypto holdings

As the Senate is working on its own version, the CLARITY Act will return to the House for final approval if it’s passed by the Senate. It would then be sent to Trump to be signed into law.