Reader Letter: Our energy firms should be nationalised
- Credit: PA Wire/Press Association Images
British Gas is predicted to raise electricity prices to an inflation busting 12.5pc, which will leave over two million households with more costs for heating, which puts a further dent in their ability to spend elsewhere in the economy. We are facing an energy crisis with the cost of privatisation for all to see. That is why the Big Six energy companies should be brought into state ownership. The public have been ripped off by these energy companies for far too long.
Capitalism and the free market has failed the consumer and has led to price manipulation, extortionate prices to the consumer and overall an noncompetitive - and unaffordable - energy supply sector.
When you remove private companies from the equation, you are taking the maximisation of profit for the shareholders out of the equation and instead make energy a public necessity.
We cannot leave individual companies in charge of our energy supply. We must renationalise and bring all six companies into one large state-owned enterprise, with all profits reinvested into making energy prices fairer and cheaper. It will benefit business, consumers, and will actually be of tremendous economic benefit as people will have more money to spend.