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Counter argument: the general public have also liked the choice, new entries and lower prices that a diverse range of suppliers have offered in the past decade.
Whether that has been built on shakey foundations, possibly, and OFGEM have come in for criticism but it has meant very low consumer prices until now.
Can’t have it both ways, either higher prices under a large conglomerate who never changes, is slow to act and has no incentive to do better or allow competition but then take the rough with the smooth
C4r1s-
Can’t have it both ways
Exactly, same for marginal pricing that everyone is now livid about but were happy with when it was driving investments in renewables
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Counter argument: the regulator is there to ensure the market works, not that consumers are protected. Hence why it has utterly failed over the last two years to prevent what is now an utter catastrophe for consumers and businesses.
So-called competition has cost the taxpayer a fortune and channelled money into the hands of private shareholders. It has has done nothing to improve efficiency and has ultimately had no benefit for the consumer.
greentricky
ketsbaia
It would fix a lot of the issues because, in the first place, you would consolidate all the retailers into one huge buying 'company', which would wield a lot more buying clout on international markets and be able to command a lower price for any imported gas and domestically produced gas. Next, it would do away with the ridiculous electricity unit pricing that sees the rate set at the cost of the most expensive generation method (this would remove most of the problem we're seeing currently). Then it could properly channel money/investment and effort into renewables that would help the country achieve net zero targets and reduce our reliance on fossil fuels (particularly from insane dictatorships).
There is literally no downside to nationalisation apart from admitting privatisation didn't work. And maybe capitalism is fucking shit. But those two admissions are more than any government or opposition are willing to make. So muggins 'ere (i.e. you, me and everyone else in the country) need to cough up our hard-earned instead.