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Greatrex supporting Corbyn’s call for energy renationalisation?

Former Labour party shadow energy minister, Tom Greatrex has asked the industry not to dismiss Jeremy Corbyn’s call to renationalise the energy sector and implored them to consider the idea.

He believes that the public would be in favour of renationalisation and urges energy companies to focus “relentlessly” on changing their approach.

While this was never an official Labour energy policy pledge, Corbyn seems to be on board after some public support was shown for the cause.

“Stepping back to let opponents attack you for something you didn’t propose – because it is more popular than what you have suggested – may seem to be at odds with the anti-cynicism mantle being claimed, but it is what has happened,” says Greatrex.

While Corbyn is the current favourite to become the new Labour party leader, we’re hopeful he won’t ever make it to Prime Minister with his ambitions.

“I would want the public ownership of the gas and the National Grid … [and] I would personally wish that the big six were under public control, or public ownership in some form.”

A renationalisation of the big six would cost as much as £185 billion. We’d love to know where that cash flow is coming from.

Along with the fantastical idea of a price freeze from Miliband, renationalisation sits in the same camp. A pipe dream with no real thought behind it as to the costs of implementation and the effect on the energy market. Not to mention that renationalisation would stifle innovation, remove any incentives to improve customer service and efficiency and give the government the monopoly on energy prices and legislation.

Yet Greatrex hasn’t woken up just yet.

“Utilities should not dismiss the reasons why calls to renationalise are popular with many, and should be focusing relentlessly on demonstrating to customers a much improved approach.”

An improved approach, yes. Corbyn should focus on his previous policy points to reduce consumption and increase community-owned low carbon energy.

The public simply want energy at an affordable price with minimum hassle. They don’t want to pay over the odds for a commodity and they want to be treated fairly.

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