There’s a lot of talk about energy prices in the UK right now. And a lot of talk about what to do about them. The record profits reported by oil companies this year have fuelled a lot of outrage – both in the press and the public – and politicians are lining up to suggest a solution to this problem.
One solution often mooted is nationalising – or re-nationalising – energy suppliers.
The UK’s Trade Union Congress was among the first to call for it, going so far as to publish a costed report claiming the whole process would cost just 2.85 billion pounds. Former Green Party leader Caroline Lucas has publicly supported the measure.
The Soros-funded openDemocracy thinktank published a piece just today headlined “What nationalising energy companies would cost – and how to do it”, which heavily cites the TUC report.
Former Prime Minister Gordon Brown wants to “temporarily” re-nationalise companies that “fail to lower bills”. Even the Telegraph – the Telegraph – is taking the suggestion somewhat seriously.
The current Labour leader Sir Keir Starmer has publicly ruled out nationalisation, in favour of a plan to spend £29 billion on, essentially, paying people’s extortionate energy bills for them. But since this is over ten times the alleged cost of nationalisation, Labours position is such a weak opposition it may as well be an endorsement.