UK households will lose up to £4,400 over the next two years because the UK has no nationalized energy generation companies, the trade union council said.
The UK’s leading trade union bodies are calling on the government to create ‘Public Energy Champions’ that can own low-carbon energy projects, from wind and solar to tidal and nuclear.
A new analysis seen by The Guardian says: TUCMore estimates that the government could use the surplus profits from this public company to reduce bills, insulate homes and improve energy efficiency.
TUC argues Britain could earn between £63bn and £122bn over the next two years if it had a national power company similar to France’s EDF, Germany’s EnBW or Sweden’s Vattenfall doing. This equates to £2,250 to £4,400 per household.
The government has tried to retroactively cut back on the unexpected gains that energy producers have made this year. In May, then-Prime Minister Rishi Sunak said: introduced a windfall tax About North Sea oil and gas producers.
But Liz Truss is resisting calls for a similar tax on low-carbon generators benefiting from skyrocketing gas prices.Instead, her government trying to negotiate a new contract with operator.
The TUC study argues that having a fully privatized market for energy generation has made the Britons pay higher bills and become more dependent on foreign technology, investment and skills.
Secretary General Frances O’Grady said: We need a fairer and greener approach to stop energy companies from using British families like cash machines.
“Families in France, Sweden and Germany are benefiting from public ownership of electricity. Set up your own UK Public Energy Champion to lower your bill and free home improvements to reduce your energy needs.” and provide a safer environment for future generations.”
Municipalization of power generation companies has enabled European countries to control prices, reinvest in local communities and implement industrial strategies, according to a TUC study. However, critics may point to his nearly €10 billion sum that the French government had to pay. Fully nationalize the indebted EDF.
The study builds on the TUC’s proposal announced in July to nationalize the five largest energy companies to lower their bills. It estimates it will cost £2.85 billion to nationalize the five largest suppliers – British Gas, E.ON, EDF, Scottish Power and Ovo.Some predictions estimate the government Over £4 billion could be spent to bail out light bulbscollapsed last year.
TUC’s proposal is Backed by the Green PartyThe party’s co-leader, Adrian Ramsey, said: “We want government ownership in all parts of the energy market to ensure a rapid transition from fossil fuels to renewable energy and to secure future energy demand.” is important to increase
“We also need to support diverse ownership models for energy generators and suppliers, such as local communities, cooperatives and local governments, who are close to the people they serve and can innovate.”
https://www.theguardian.com/politics/2022/sep/24/nationalised-energy-could-save-uk-households-up-to-4400-tuc-says Nationalized energy could save UK households up to £4,400, the TUC said. TUCMore