little to do with it, actually. more the fact we privatised our energy infrastructure from thatcher onwards and systematically failed to plan/stockpile in last 12 months.
we have north sea oil and a relationship with norway over emergency supplies. don’t need to be in the EU to deal with norway.
there are lesser arrangements with france and the EU blocs purchasing behaviour generally that’s driving up prices, but again brexit is minor in the setting of retail energy pricing.
where brexit does hurt is in the fact it’s also plunging the general economy towards recession and is hurting the wallet of the average pleb. it’s undeniably a part of the broader economic stressors.
but in this case the retail prices really are that way because the tories have believed in the market dogma, since thatcher onwards, that ‘private sector is more efficient’. meanwhile there’s a rotating door between these energy companies boards, lobbies, and tory MPs, of course.
as for ‘market efficiency’ and the ‘strengths of capitalism’, now our energy and transport networks are labyrinthine and endlessly convoluted. different private concerns own the power stations, operate the grid, buy wholesale units of energy and sell retail units of energy … we have 6 major ‘suppliers’ and endless subsidiaries they have acquired who are technically buying the wholesale fuel at one price and reporting record profits on the difference, all of whom have received considerable emergency funds during covid/ukraine shocks to keep their retailing afloat. different companies own and are responsible for the railways themselves, the trains that run on them, the thousands of bus suppliers, the dozens of train companies … and of course, they’re not really competing in a market but being endlessly subsidised or bailed out, because they’re ‘too big to fail’. that’s capitalism baby! survival of the fittest
it’s so perverse that british people subsidise the cost of utilities for european citizens. even for the chinese in the case of water. that’s because the major conglomerates that snapped up our energy grid were … companies like EDF and chinese state affiliated concerns. EDF, that is, who are the french energy company who just became 100% state-owned in response to the same crisis.
france has a 4% energy price rise in good part because their UK division is skimming record profits. oh and because they believe the state should have a say in the provision of utilities as a public good, rather than an excuse to make their mates from private school or the golf club stinkingly rich.
but remember: dilbert says renationalisation is too expensive now we’ve banned those generous russian oligarchs. and unions are naughty! you’d have to be insane to consider state ownership or control of prices. capitalism baby
Last edited by uziq (2022-08-10 23:31:43)