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I'd say given only 20% of the gas we use to generate electricity is imported (and much of that could have been avoided had we kept our storage capacity) means largely we could have protected consumers from the global shock.
There's a shit tonne we could have done to avoid this, but it meant shareholders not making eye-watering sums, so we didn't do it.
The point is not operating in the same manner, because the current manner is an utter clusterfuck - unless you're an energy company. There are huge arguments for not doing things the way we've done it since privatisation, the brief period where unviable energy retailers were competing and driving prices down artificially notwithstanding. Again, it was a false market and failed catastrophically. The so-called energy market in this country is a failed experiment. Unless you're one of the big six/suppliers, in which case it's a beanfeast.
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ketsbaia
Would a nationalised power (gas/elec/etc) industry have protected consumers from a global shock and market forces?
If they operated in the same manner then short answer is no. If they extract, produce and supply the power to consumers outside of global markets (a mini domestic market) then possibly, but is this really feasible?
Just becuase it’s not working right this moment isn’t necessarily an argument to nationalise. But there possibly is an argument to be made for a de coupling of fossil fuel and renewable power generation, micro generation stations and investment in de centralised grid to reduce the impact of external shocks.