| GB Energy on 08:54 - Jul 3 with 1208 views | NthQldITFC |
Terrifying. Something has to break. Capitalism or society? |  |
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| GB Energy on 09:00 - Jul 3 with 1158 views | Zx1988 |
Very worrying.
Our energy delivery infrastructure in the hands of private investors, with the power to hike up the usage fees to exorbitant levels at the end of the first contract. |  |
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| GB Energy on 09:10 - Jul 3 with 1064 views | SuperKieranMcKenna |
I’m not sure many are under the illusion GB energy will have any state owned energy assets (not for £20bn any way which wouldn’t get you very much). Corbyn’s manifesto estimated a £200bn cost to nationalise the utilities alone. It didn’t include the cost of the National Grid’s assets, and given the utility companies represent a mere 2pc of our bill, would have been incredibly bad value.
Unfortunately the ship has sailed when the Tories sold off our assets. The amount of capital needed for energy infrastructure is 100’s of billions in the UK alone. The only way we could raise that kind of capital is with a SWF like Norway, so the fact is we DO need private sector investment for green energy. It would have been better to have GB Energy being an energy provider but buying stakes in assets, building up a fund on their returns and growing out from there. As it stands all they are doing is subsidising the private sector with oublic money. | | | |
| GB Energy on 09:16 - Jul 3 with 1026 views | nodge_blue |
A lot of that is fair commentary until it gets to the last paragraph. To try and put that into plain English it seems to be saying let’s forget the trillion pounds of debt and imagine the state can fund this by taxing businesses and wealthy individuals more.
But these projects are going to be multi, multi billions. Is it feasible that higher corporation tax will achieve that? And quite rightly Rachel Reeves is going to try and get businesses to invest in this country so we all get more jobs and better paid jobs and that we finally get higher productivity so that growth can fund public service improvements rather than tax rises. And you don’t achieve that by slapping higher corporation tax straight off. |  |
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| GB Energy on 09:21 - Jul 3 with 999 views | DJR |
| GB Energy on 09:10 - Jul 3 by SuperKieranMcKenna |
I’m not sure many are under the illusion GB energy will have any state owned energy assets (not for £20bn any way which wouldn’t get you very much). Corbyn’s manifesto estimated a £200bn cost to nationalise the utilities alone. It didn’t include the cost of the National Grid’s assets, and given the utility companies represent a mere 2pc of our bill, would have been incredibly bad value.
Unfortunately the ship has sailed when the Tories sold off our assets. The amount of capital needed for energy infrastructure is 100’s of billions in the UK alone. The only way we could raise that kind of capital is with a SWF like Norway, so the fact is we DO need private sector investment for green energy. It would have been better to have GB Energy being an energy provider but buying stakes in assets, building up a fund on their returns and growing out from there. As it stands all they are doing is subsidising the private sector with oublic money. |
I wouldn't disagree with that at all, although I do sense that the way it has been presented has led many people to believe it is something it is not.
I am also a bit sceptical about claims it will bring down energy bills. The move to renewables may well do in the long term but that is a long way off especially given our dependence on gas, and GB Energy would only play a very tiny part in the switch to renewables. There is also the fact (I believe) that electricity costs are tied to gas costs which meant electricity prices soared even though a fairly high percentage of our electricity already comes from renewables. [Post edited 3 Jul 2024 9:24]
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| GB Energy on 09:25 - Jul 3 with 966 views | BanksterDebtSlave |
Abandon hope all ye who enter here.
Don't say you weren't warned. |  |
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| GB Energy on 09:28 - Jul 3 with 949 views | BanksterDebtSlave |
| GB Energy on 09:10 - Jul 3 by SuperKieranMcKenna |
I’m not sure many are under the illusion GB energy will have any state owned energy assets (not for £20bn any way which wouldn’t get you very much). Corbyn’s manifesto estimated a £200bn cost to nationalise the utilities alone. It didn’t include the cost of the National Grid’s assets, and given the utility companies represent a mere 2pc of our bill, would have been incredibly bad value.
Unfortunately the ship has sailed when the Tories sold off our assets. The amount of capital needed for energy infrastructure is 100’s of billions in the UK alone. The only way we could raise that kind of capital is with a SWF like Norway, so the fact is we DO need private sector investment for green energy. It would have been better to have GB Energy being an energy provider but buying stakes in assets, building up a fund on their returns and growing out from there. As it stands all they are doing is subsidising the private sector with oublic money. |
If only there was a money tree!
Oh hold on there is.....just not for us. | |
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| GB Energy on 09:29 - Jul 3 with 942 views | SuperKieranMcKenna |
| GB Energy on 09:21 - Jul 3 by DJR |
I wouldn't disagree with that at all, although I do sense that the way it has been presented has led many people to believe it is something it is not.
I am also a bit sceptical about claims it will bring down energy bills. The move to renewables may well do in the long term but that is a long way off especially given our dependence on gas, and GB Energy would only play a very tiny part in the switch to renewables. There is also the fact (I believe) that electricity costs are tied to gas costs which meant electricity prices soared even though a fairly high percentage of our electricity already comes from renewables. [Post edited 3 Jul 2024 9:24]
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That’s correct it will not bring bills down unless we change the pricing mechanism - it’s not tied to gas specifically, but the most expensive source of generation at a point in time (so at times gas can be cheaper than renewables (which do require a lot of maintenance and so have a higher operating cost than some people may assume). | | | |
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| GB Energy on 09:43 - Jul 3 with 884 views | DJR |
| GB Energy on 09:29 - Jul 3 by SuperKieranMcKenna |
That’s correct it will not bring bills down unless we change the pricing mechanism - it’s not tied to gas specifically, but the most expensive source of generation at a point in time (so at times gas can be cheaper than renewables (which do require a lot of maintenance and so have a higher operating cost than some people may assume). |
Going back to your point on renationalisation, I was a staunch supporter of the nationalised utilities when they were in public hands, but now that they are not, I am not wholly convinced that renationalisation would work (leaving aside the cost) because the privatised utilities are like Humpty Dumpty. [Post edited 3 Jul 2024 9:43]
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