Great British Energy

It’s been spouted previously & I believe it’s a good idea. At least we have control of some of our energy market.
Good news after an England comeback, the prospect of getting the Tories out, we just need a coup in Russia to oust Putin. That’s cheered me up no end.
Just watch the Tories try & copy it now.
 
Trammo said:
One energy company publicly owned would not be big enough to cover all energy needs.🤔
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That isn't the point. Who is saying all energy has to come from one company. It's introducing a state funded company that can push prices down in the market. A public option. I guess similar to the principle of Obamacare, where the public option exists alongside private and undercuts their prices to decrease prices.
 
Back to the days of British Gas then. I'm no fan of either party at the moment but I do agree that energy, utilities and transport (road and rail) should be in public ownership.
The only downside is you remove competition which can under normal circumstances
push prices down as it gives people the option to change supplier and get a better deal.
That doesn't seem to be working very well at the moment, although it's hardly normal circumstances.
 
RUSTY_2_STANDS said:
Back to the days of British Gas then. I'm no fan of either party at the moment but I do agree that energy, utilities and transport (road and rail) should be in public ownership.
The only downside is you remove competition which can under normal circumstances
push prices down as it gives people the option to change supplier and get a better deal.
That doesn't seem to be working very well at the moment, although it's hardly normal circumstances.
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How does creating a new public energy company remove competition?
 
foggy said:
How does creating a new public energy company remove competition?
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I'm just assuming that this new public energy company would be providing all the energy for the country.
The current providers would be nationalised and brought under this one public owned company.
A bit like when all the rail infrastructure was brought under Network Rail.
Or have I read it wrong?
 
RUSTY_2_STANDS said:
I'm just assuming that this new public energy company would be providing all the energy for the country.
The current providers would be nationalised and brought under this one public owned company.
A bit like when all the rail infrastructure was brought under Network Rail.
Or have I read it wrong?
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I think it's just a new company to compete alongside?

Edit - just checked and yes it is, they are starting with a small market share.
 
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Well I would say the cost would be eyewatering, but as this government is borrowing money like it's going out of fashion, the point is rather mute.
 
RUSTY_2_STANDS said:
I'm not sure foggy. I read it the other way that it was going to be a nationalisation of all the private providers and
all the nation's energy then came under state ownership. I actually broadly agree with that but with some misgivings.
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The proposal is for a publicly owned company that will compete with private companies.

There’s no proposal for all the nations energy to come under state ownership, which would be a ridiculous and unnecessary thing to do in any case.
 
RUSTY_2_STANDS said:
I'm not sure foggy. I read it the other way that it was going to be a nationalisation of all the private providers and
all the nation's energy then came under state ownership. I actually broadly agree with that but with some misgivings.
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Logically, if it were just another competitor in the market, it would be the most inept and useless of all and thus nobody would use them, in which case it can only be a state monopoly.
 
RUSTY_2_STANDS said:
Probably because when you compare a lot of state owned services/companies to private companies,
the private ones don't waste huge amounts of money, and are more efficient and customer focused. In my experience anyway,
and certainly in my field of employment.
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Who are we comparing?
 
RUSTY_2_STANDS said:
Probably because when you compare a lot of state owned services/companies to private companies,
the private ones don't waste huge amounts of money, and are more efficient and customer focused. In my experience anyway,
and certainly in my field of employment.
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A company made to reinvest profits into renewable capital investment would be more wasteful than the current private companies spending billions on stock buybacks to dodge tax?
 
RUSTY_2_STANDS said:
Back to the days of British Gas then. I'm no fan of either party at the moment but I do agree that energy, utilities and transport (road and rail) should be in public ownership.
The only downside is you remove competition which can under normal circumstances
push prices down as it gives people the option to change supplier and get a better deal.
That doesn't seem to be working very well at the moment, although it's hardly normal circumstances.
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Nothing to do with British Gas. Completely unlike it: different focus, different sourcing of fuel, not a sole supplier. At least understand what you're posting about before attacking your keyboard.
 
RUSTY_2_STANDS said:
Probably because when you compare a lot of state owned services/companies to private companies,
the private ones don't waste huge amounts of money, and are more efficient and customer focused. In my experience anyway,
and certainly in my field of employment.
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In my experience the private sector is ** useless and borderline dangerous, at Hinchingbrooke they put lives at risk for profit.
 
The real vote winner will be the impact of increased energy bills over the next few months. Mine have increased by 172% this month (so much for 10% inflation) and these tax cuts I will get in return won't cover that. The Tories have completely messed up by not adopting a policy to reduce energy bills - their idea of allowing the energy companies to keep their obscene UK profits but trying to give us a bit extra so we can pay them via tax cuts is a particularly stupid idea. It simply isn't enough. It also will not reduce inflation.

The coup de grace will be if mortgage interest rates reach the 6% value financial journalists have been reporting on.

Tories - the party of financial competence? Give me a break.
 
Hackneyseasider said:
The real vote winner will be the impact of increased energy bills over the next few months. Mine have increased by 172% this month (so much for 10% inflation) and these tax cuts I will get in return won't cover that. The Tories have completely messed up by not adopting a policy to reduce energy bills - their idea of allowing the energy companies to keep their obscene UK profits but trying to give us a bit extra so we can pay them via tax cuts is a particularly stupid idea. It simply isn't enough. It also will not reduce inflation.

The coup de grace will be if mortgage interest rates reach the 6% value financial journalists have been reporting on.

Tories - the party of financial competence? Give me a break.
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Er, what about this: https://www.gov.uk/government/news/...-taking-action-to-reform-broken-energy-market

Only a £130 billion package within the first week or so of taking office.
 
Lost Seasider said:
Er, what about this: https://www.gov.uk/government/news/...-taking-action-to-reform-broken-energy-market

Only a £130 billion package within the first week or so of taking office.
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Costing an additional £500 billion in lost market value, nice one

All the above bollux about it being less efficient than the private sector is missing the point, even if true (which it isn't). Green Energy is now cheaper than fossil fuels, so this new company can offer energy at a lower cost and still be very profitable. And , even better, it can be off and running within months, not decades.
 
Imagine two countries either side of a sea full of gas/ oil one let's the market manage the resource and the other creates a sovereign wealth fund which uses the money generated to improve lives of its citizens. If comes off I hope it's our version of the wealth fund based on the natural resources of solar and wind. We are geographically well placed to have access to both. Far to important to let the market mess it up again.
 
Now if they could get very local supply lines, with GB owned companies manufacturing the stuff and they get a load of tradespeople working in the industry; it would have a beneficial impact on the manufacturing base too.
 
Lytham_fy8 said:
In my experience the private sector is ** useless and borderline dangerous, at Hinchingbrooke they put lives at risk for profit.
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I’m just comparing my experience in my field as I’ve worked for both public and private. I’ve no doubt there are horror stories on both sides. I can only speak from my experience
 
TSSeasider said:
Good idea this (and finally a proper policy)

At the absolute minimum, it should provide every hospital, school, government building etc which will give them anchor customers enabling it to gain market share and disrupt the current cartel.
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I'm not sure that would be the case... I suspect they would have to compete fairly with other Suppliers for any Public Sector supply contracts.
 
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