The new Labour government's plans for the year ahead will be read out by King Charles in a speech to Parliament this morning.
The speech is expected to outline around 35 draft laws ministers intend to introduce in the coming months, following Labour's return to power.
Legislation is expected to set-up GB Energy, a new state-owned energy company to be based in Scotland.
The firm will invest in renewable energy projects, including emerging technologies like offshore floating wind farms and clean hydrogen.
Although it will not be a retail company that sells energy directly to consumers, Labour says it will generate power in its own right, as well as owning, managing and operating clean power projects alongside private firms.
More than 850 business leaders in Aberdeen and Aberdeenshire have signed an open letter to the UK Government calling on the new firm to be located in Aberdeen.
Ministers have also promised legislation to set up a National Wealth Fund, which will invest £7.3bn over five years in infrastructure and green industry.
The speech is also expected to reference legislation to deliver Labour's pledge renationalise nearly all passenger rail services.
A law will be needed to set up a new body to oversee track and trains, called Great British Railways, and allow the government to take on responsibility for running services when existing franchise contracts expire.
Labour has also promised to introduce legislation within 100 days of taking office to deliver new workers' rights promised ahead of the election. Businesses and unions are expected to be consulted on the details.
The plans include banning the "exploitative" use of zero-hours contracts, and scrapping qualifying times for unfair dismissal, sick pay and parental leave rights.
A separate bill has been promised to extend the right to make equal pay claims under the Equality Act to ethnic minority workers and disabled people.
FTSE 100
The UK's flagship share index, the FTSE 100, was up 13-points at 8,150 shortly after opening this morning.
Brent crude oil futures were down -0.33%, trading at $83.45 a barrel.
Companies reporting today
ASML | Q2 Results |
Antofagasta | Q2 Production Release |