If You Think Nationalisation Is Totally Unaffordable, Please Explain This...

Welcome to Britain where we chose to risk blackouts at Xmas, cut our grocery options in half, ration chemotherapy for cancer patients, and threaten peaceful protesters with prison because we thought the guy with the fully-costed manifesto might threaten our way of life by nationalising our public services!

By now, you're probably painfully aware the UK is facing skyrocketing energy bills and many families could be forced to choose between heating and eating this winter, begging the question of whether nationalisation is only a bad idea when Jeremy Corbyn suggests it. 

If you are one of the many people worried about going cold this winter, you will be relieved to hear Dominic Raab thinks this is not the government's problem and you just need to "work harder". So good luck with that! Maybe you can keep yourself warm at our bonfire of workers' rights.

Here is the situation:

The average market price for electricity in the UK is currently a record £247.55 per mwh according to epexspot. This is the highest figure in Europe and significantly higher than countries which have nationalised their energy. Such is the eye-watering rate of energy rises, the below infographic is already out of date (the situation is now worse), but compare UK prices to northern Europe where nationalisation is the norm and witness how badly we are being ripped off.


Credit to epexspot

Now you might think lower prices elsewhere are due to other governments paying huge subsidies to keep bills low, but the reverse is actually true: Britain pays the highest energy subsidies in Europe. That's right, we are paying the highest energy prices and the highest subsidies by far. We are being ripped off from both sides.

The Guardian reported earlier this month, a typical UK household will pay £1,138 for a dual-fuel energy bill, an increase of £139 (and much lower than our energy bill!). But again, this figure is probably already out of date because of skyrocketing prices, so the true figure is anyone's guess.

If you are on a pre-payment metre, the situation is even worse because capitalists just love to screw over the poorest members of society. You are likely to see your annual bill rise from £1,156 to (at least) £1,309. It's almost like having your Universal Credit cut twice.

And yet, despite the huge energy bills and the huge subsidies, some of our biggest energy suppliers are on the verge of bankruptcy. It's almost like neoliberal privatisation is not the most efficient model we can come up with! 

Don't worry though, because you can rest assured the government who can't afford £20 a week to stop families depending on foodbanks can definitely afford to bail out these companies. Remember this, the next time the media tells you nationalisation is "totally unaffordable".

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