The energy crisis

[1andrew1]

Are higher energy really bills the best way to pay for bailing out the energy sector?

The cost to UK households of bailing out nationalised energy retailer Bulb is expected to soar to more than £4bn by the spring unless the government achieves a sale, saddling every home with an additional £150 or more on its bills next year.

The new forecast from energy consultancy Auxilione illustrates the spiralling costs of supporting Bulb’s 1.4mn customers as wholesale gas and electricity prices surge. The company’s administrators are hamstrung by government rules that restrict hedging against rising energy prices.

The bailout of Bulb, which collapsed in November last year, is expected to be the most expensive since the rescue of RBS during the financial crisis. Unlike 2008, the government plans to make households absorb the cost through higher energy bills rather than funding the rescue through general taxation as it is doing currently.

https://www.ft.com/content/cbe1c23e-...d-58065802c53e

[OLD BOY]

Originally Posted by Qtx

https://www.youtube.com/watch?v=_RHzqZx_vPI

We need to re-nationalise energy, Water and the Railway system.

Until we do that, we are always going to be subsidising people in foreign companies instead of helping ourselves.

In what way did any of our nationalised industries perform better than the privatised industries?

[jfman]

Originally Posted by OLD BOY

In what way did any of our nationalised industries perform better than the privatised industries?

Red herring alert.

[OLD BOY]

Originally Posted by jfman

Red herring alert.

Not really. If you are clamouring for re-nationalisation, I think we need to know, based on our experience of nationalised industries, why that would be preferable to what we have now.

[jfman]

Originally Posted by OLD BOY

Not really. If you are clamouring for re-nationalisation, I think we need to know, based on our experience of nationalised industries, why that would be preferable to what we have now.

Given 30 years of technological innovation and "investment" (no laughing at the back) the expectation would be that one would outperform the other. Yet it's not the case. Energy costs are completely disassociated from the cost of production. Private industry cannot increase supply and react to market forces - therefore its not a market in any meaningful sense.

Why would we exclude worldwide experiences? I don't believe in British exceptionalism any more than you do with your attacks on our workers.

Originally Posted by jfman

Red herring alert.

Its a red herring becasue you disagree ? Not really ....

[GrimUpNorth]

Originally Posted by OLD BOY

Not really. If you are clamouring for re-nationalisation, I think we need to know, based on our experience of nationalised industries, why that would be preferable to what we have now.

Well I think LNER is doing ok since it became state owned again.

[jfman]

Originally Posted by Paul

Its a red herring becasue you disagree ? Not really ....

It's a red herring because it's an irrelevant distraction.

With privatisation considered a goal many industries were underfunded in their latter years, plus the previously mentioned decades of innovation between then and now.

Alternative successful models can be seen in countries genuinely interested in making a success of them, without being blinded by the blinkers of 4 decades of failed economic policy.

[OLD BOY]

Originally Posted by GrimUpNorth

Well I think LNER is doing ok since it became state owned again.

I guess for every rule, there’s an exception…

[Qtx]

Originally Posted by OLD BOY

In what way did any of our nationalised industries perform better than the privatised industries?

So because it might not have gone well in some industries in the past it can't work now in any sector?

Its working great for other countries and they are subsidising it by making profit abroad.

When so much profit is being made it could easily be run the same without profit and decrease our costs.

[jfman]

Originally Posted by OLD BOY

I guess for every rule, there’s an exception…

<removed>

Originally Posted by jfman

..without being blinded by the blinkers of 4 decades of failed economic policy.

Four decades of failed economic policy ?
On what do you base that, or did you just make it up ?

Four decades covers multiple Labour, Conservative and Coalition governments.
There were many years of enonomic boom during that time (and some bad years as well).

jfman just likes to trash the Tories, while conveniently forgetting all the other bad times with other parties. Perhaps he’d like to tell the SNP to get the overflowing bins sorted in Edinburgh right about now?

[1andrew1]

Originally Posted by OLD BOY

I guess for every rule, there’s an exception…

Can you name a good privatised train operator?

[jfman]

Originally Posted by Paul

Four decades of failed economic policy ?
On what do you base that, or did you just make it up ?

Four decades covers multiple Labour, Conservative and Coalition governments.
There were many years of enonomic boom during that time (and some bad years as well).

Indeed it covers multiple governments of varying colours. Economic boom doesn't exempt those periods from being part of a failure too if it's not matched by rising wages and living standards across the board. If economic success looks like our decimated town centres of bookies, pound shops, charity shops and rough sleepers I'd hate to see what failure looks like.

I'm not making a party political point despite what Mick believes, I don't view politics the same way I support a football team.

---------- Post added at 08:28 ---------- Previous post was at 08:25 ----------

Originally Posted by Mick

jfman just likes to trash the Tories, while conveniently forgetting all the other bad times with other parties. Perhaps he’d like to tell the SNP to get the overflowing bins sorted in Edinburgh right about now?

Dear Snp, if you read cable forum can you get the Labour minority run Edinburgh council (propped up by the Tories and Lib Dems) to sort out the bins. Thanks. Jfman

Done. And it didn't solve the energy crisis.