Great British Energy

[Junior_BentsPlatformShoes]

It's a great idea - it's one way of curbing the profit for shareholders and investors interests above that of the population here. They need to continue it into the water sector too - we may have half a chance of having water pipes and reservoirs fit fore purpose and effluent not being pumped straight into rivers and seas then. Foreign shareholders don't give a toss about that, only profit and more profit.

 

[RUSTY_2_STANDS]

G4 were a classic case when running the prison service. ...

And the public authority who I worked for were a classic case of utter incompetence and waste. There's horror stories on both sides.

 

[Ollygon]

Its better than the shit spouted by that tory useless bitch FRACK OFF tory bastards or have it in your back yard aca south of watford or east anglia ,see what they think ?.

Poor Liz!

But she speaks very highly of you.

 

[Shandypants]

And the public authority who I worked for were a classic case of utter incompetence and waste. There's horror stories on both sides.

But they are ultimately responsible to the tax payer and councillors. Capita took over swathes of local authority and were even worse value for money.

 

[Ollygon]

And the public authority who I worked for were a classic case of utter incompetence and waste. There's horror stories on both sides.

... and the public authorities I worked for were wonderful examples of responsibility and thrift.

The 2 of you were well suited, Rusty

 

[Ollygon]

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.

Nye Bevan once questioned how we could have energy and food shortages when the country was sitting on millions of tons of coal, and surrounded by water full of fish.

 

[RUSTY_2_STANDS]

... and the public authorities I worked for were wonderful examples of responsibility and thrift.

The 2 of you were well suited, Rusty

That's par for the course, resort to insults. Have you always worked in the public sector then?

 

[RUSTY_2_STANDS]

But they are ultimately responsible to the tax payer and councillors. Capita took over swathes of local authority and were even worse value for money.

Then they must have been bad to be worse than Local Authorities when it comes to wasting money.

 

[Lost Seasider]

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.

Erm, the population of Norway is about 5m, and they have enough hydropower to meet 90% of their electricity needs as well, so they can afford to export much more gas than us, and they produce 3 - 4 times as much gas as well.

 

[TSSeasider]

What makes you think they will be able to undercut everyone else?

The triumph of hope over experience.

 

[SeasideKurt]

It's a start of the Labour government bringing out new policies that will hit home with all voters.

We've seen a lot of hot air from Labour over the last 6 years and very little substance. They're needed now more than ever.

 

[ElBurroSinNombre]

It's a start of the Labour government bringing out new policies that will hit home with all voters.

We've seen a lot of hot air from Labour over the last 6 years and very little substance. They're needed now more than ever.

Why weren't they doing that before?
The Sovereign Wealth Fund policy is another very good one

 

[BFC_BFC_BFC]

The triumph of hope over experience.

I’m not sure that them being cheaper than everyone else or essentially driving competition out of the market would be a measure of success in any case.

The investment in renewables by a British Government backed Energy Company is a positive step that will help to increase Energy Security and drive down cost. The aim should be to encourage further private investment as opposed to eliminating it.

 

[fcblackpool]

Am I missing something? I though anyone generating energy had to supply the wholesale market where prices are determined. Thereafter 'domestic' suppliers buy with a + %age added. then Joe gets the energy with another + %age.

To fully be beneficial in a self help/sufficient way the GBEC would have to cut out the wholesaler and supply direct. Is that how it would work?

I'm all for it and can't see why anyone wouldn't be. Just in time for the General Election next May.

 

[foggy]

Am I missing something? I though anyone generating energy had to supply the wholesale market where prices are determined. Thereafter 'domestic' suppliers buy with a + %age added. then Joe gets the energy with another + %age.

To fully be beneficial in a self help/sufficient way the GBEC would have to cut out the wholesaler and supply direct. Is that how it would work?

I'm all for it and can't see why anyone wouldn't be. Just in time for the General Election next May.

We don't know how exactly this works yet but renewable energy providers bid for government contracts and whoever offers the lowest price for each KW generated wins the contract. However if the wholesale energy price is higher than that contract they owe the government money. This is called cfds and these contracts are getting cheaper and cheaper as renewables get cheaper, meaning the renewable energy companies are going to be owing billpayers tens of billions over the next few years as obviously the wholesale market is way higher right now.

I'm a bit disappointed GB Energy won't be a customer supplier as I thought that's where the undercutting of energy bill prices may come in, like Obamacare in America for healthcare. However it's still a good policy based on the principle of foreign energy companies are flooding into the UK to create renewables because it's so profitable and an exploding market, so why shouldn't we be reaping the rewards.

 

[BFC_BFC_BFC]

Am I missing something? 1. I though anyone generating energy had to supply the wholesale market where prices are determined. 2. Thereafter 'domestic' suppliers buy with a + %age added. then Joe gets the energy with another + %age.

3. To fully be beneficial in a self help/sufficient way the GBEC would have to cut out the wholesaler and supply direct. Is that how it would work?

I'm all for it and can't see why anyone wouldn't be. Just in time for the General Election next May.

Yes you’re missing something..

1. They don’t

2. Some suppliers are also generators

3. There are other benefits beyond price alone (security, carbon reduction, safeguards for low income households & low credit businesses), but a producer / generator can essentially take whatever view it wishes to take regarding the sale of energy.

 

[foggy]

Yes you’re missing something..

1. They don’t

2. Some suppliers are also generators

3. There are other benefits beyond price alone (security, carbon reduction, safeguards for low income households & low credit businesses), but a producer / generator can essentially take whatever view it wishes to take regarding the sale of energy.

I really hope this can help shorten the exorbitant amount of time it takes to build new nuclear reactors