Renationalisation of energy firms slammed by Ann Widdecombe
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
As bills soar for households across the UK, Ms Sturgeon has noted that the nationalisation of energy companies should be “on the table” as a solution to tackle the crisis. Britons are facing the worst impacts of a fossil fuel energy crisis, as household bills are tipped to reach around £6,000 within a year. On Sunday, Ms Sturgeon said that the expected price cap increase on energy bills “can’t be allowed to go ahead” as charities warn that millions of families will be thrust into fuel poverty.
Pointing to France, where the Government recently purchased a 100 percent stake in EDF, Ms Sturgeon suggested that Westminister could buy shares in exchange for subsidies.
When asked whether public ownership should be considered, she told the BBC: “I think all of these things have to be on the table.
“I don’t have the power to do that: the UK government should be considering [it].
“Cancel the price cap increase, do that first of all, and then yes, how is that then funded?
“What is the contribution from energy companies, the UK Government, what does it mean in terms of the ownership profile of energy companies? All of that has to be on the table.”
“But first and foremost, this increase in people’s energy bills, further increase in people’s energy bills, can’t be allowed to go ahead, because it is making it impossible for people to provide the basics for themselves and their families.”`
However, these plans were denounced by energy experts, who were unsure about whether public ownership of energy could lower bills.
Jim Watson, professor of energy policy at UCL, said that nationalisation of either energy producers or retailers, may not deliver results.
He told Energy Voice: “I tend to be sceptical about calls for nationalisation under normal circumstances just because it will cost a lot of money, it’s disruptive and the question is: What will it enable you to do as a government that you can’t do now?”
“Because we haven’t had nationalised energy companies for so long, people have forgotten that it’s an enormous headache to have one – as well as an enormous opportunity – in the sense that the taxpayer ends up as the owner.”
Alongside managing “difficult relationships” between new, state-owned companies and the Government, Prof Watson was unconvinced such moves would alleviate consumer prices – especially when politicians still have “lots of options on the table.”
DON’T MISS:
Driver fury: Britons feel FORCED to make ‘expensive’ switch as ‘imp… [REVEAL]
Sulphur shortage threatens food security and green technologies [REPORT]
We don’t need EU! UK firms handed Brexit boost through new US and A… [INSIGHT]
Meanwhile, Ms Sturgeon was shamed online for her plans.
A pro-UK Scottish blogger tweeted: “The problem is the price of oil & gas that we buy from abroad.
“This price will be the same whether we nationalise energy companies or not.
“I have the distinct impression Sturgeon neither understands prices, trade nor nationalisation.”
Meanwhile another said: “Sturgeon’s call to nationalise the energy companies, akin to her call for no-fly zone over Ukraine, ill thought out and not a clue what she is talking about.”
Source: Read Full Article