Support Nationalisation of the energy sector within the UK

Scottish Power has revealed that it intends to implement a 19% increase in the price of gas and a 10% rise in the price of electricity, this is on the back of an increases in November 2010.

These increases are likely to be mirrored by the other big 6 energy suppliers in the UK. The most disturbing factor about these rises is that it comes on the back of record profits post by the likes of British gas who raked in £742million in 2010 which translates to a whopping 24 per cent rise helped by a price hike of 7% at the start of the coldest winter for decades, to make matters worse this rise occurred just weeks after a half yearly report showed that profits had double for like for like sales.

British gas is not the only company within the energy sector announce record profits with Npower also posting a 9% increase in profits after issuing an average 5% rises in both gas and electricity prices with Scottish power posting a massive £1.2 billion.

These prices are way above the rate of inflation and while Scottish power is the only energy supplier to have yet to announce its intention to increase prices which will take effect in august 2011, I think it’s a fair assessment that the others will follow suit as they seem to be one big cartel, while they may not share profits with each other, they do aid each other in the creation of profits by posting price hikes across the board. For example now that Scottish power has announced its intention to increase its price for 2011 it opens the door for further increases in prices albeit at varying levels. The ability to shop around does not guarantee a fair price; it only offers you the ability to choose how far over the odds you are willing to pay.

It is my opinion that the energy sector is in every way as important as the health and defence sectors of this country and without which none of us could survive and neither would we stand by and see them privatised. The Nationalisation of the energy sector would help to safe guard the future of the United Kingdom.

It is not beyond the realms of realism to believe that a nationalised energy sector could work effectively and with the knowledge that any profits posted will be returned back into the system to help improve the standard of living within the UK.