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That's not really a solution, it's profits for the boys.
The banks will make a return on investment based on customer bills and the energy companies can rub their hands at the price cap increase making them mucho money, on customer bills and a tidy loan (paid back with customers money)Government refusing to increase the cap and nationalise failures is the way to go. If the energy companies want banks to finance them then take a fucking private loan you bastards not a state funded one.
Grumpy_Git-
Government refusing to increase the cap and nationalise failures is the way to go
What is the use in that? A bankrupt energy supplier (e.g. Bulb) is of zero value, probably deeply negative if you honour long-term fixed tariffs properly. It's not like you would transfer any productive generation assets to the State.
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Energy costs for gas and power in the wholesale markets are much higher for the years to come than they were before the crisis - we’re facing higher bills for years. If this scheme is structured so that, if prices fall quicker than expected, the windfall profits are used to wind up the scheme quicker at less cost to the taxpayer, then I think it would be a good one.
NB the government can borrow cheaper than the private sector, so government funding would make this scheme overall cheaper for taxpayers.
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Why nationalise only the failures? They should take equity stakes in energy companies rather than offering loans, and thus own the successes
NickCJ
h2o
GeneralStrike
Energy companies coming up with solutions to rising energy bills in the absence of any solutions from government
https://www.theguardian.com/business/2022/aug/15/centrica-and-octopus-back-plan-to-freeze-uk-energy-bills-for-two-years