GREAT BRITISH ENERGY

KIER STARMER'S NATIONALISED ELECTRICITY GENERATOR

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The key to soaking up wasted energy, is to integrate the electricity supply industry with the infrastructure for EVs. The problem being that the automotive world and the electricity industry, appear not to comprehend the problems, so contained are they in their own little bubbles. You can lead a horse to water, but you cannot make it drink.

The Labour Party, under the leadership of Kier Starmer, with Rachel Reeves as Labour's shadow chancellor, have proposed a nationalised electricity supply company, to cut out the dividends paid to shareholders. So reducing the cost of energy for British citizens struggling to pay to keep their homes lit and heated during the cost of living crisis that was allowed to escalate during a succession of Conservative leaders: David Cameron, Theresa May and Boris Johnson.

Even with Rishi Sunack at the helm doing his best to cope with the National Debt at levels near GDP, it seems unlikely that Britain will be able to scale the mountain of borrowing they have accumulated. The energy crisis is so bad, Jeremy Hunt appears to have lost his marbles, attempting to re-define nuclear energy Renewable. Despite it being the most dangerous cumulative poison for the planet. Anyone would have to be desperate to detach from the correct position regarding waste disposal and leaks, that any scientist will tell you is true. The taxpayer ends up footing the bill for hundred and thousands of years of monitoring. That no country can afford. It is more short-termism of the Thatcherite variety.

There is no need to dump in their own back yard, while wind and solar power are so very much cheaper. And yes, The UK have allowed other nations to build on their doorstep, so supporting European countries with dividends, rather than install home grown businesses as an investment in themselves. But that is another Conservative trait, selling out their own country. EDF is French. Meaning that France benefits from energy sales in the UK. France is another nation trying to pretend that nuclear energy is clean. All of the world is facing the same challenge, to reduce their GDP, to cool our climate. You cannot aspire to more growth, when we've already outgrown the earth 2.4 times sustainable levels. Maybe that is the election drum politicians should be banging.

Operators of the National Grid should face heavy fines for not modernising, by introducing legislation to force National Grid distributors, to get with it. 

THE GUARDIAN JANUARY 2023 - STATE OWNED ELECTRICITY COMPANY 'COULD SAVE BRITONS NEARLY £21 BILLION A YEAR'

A publicly owned electricity generation firm could save Britons nearly £21bn a year, according to new analysis that bolsters Labour’s case to launch a national energy company if the party gains power.

Thinktank Common Wealth has calculated that the cost of generating electricity to power homes and businesses could be reduced by £20.8bn or £252 per household a year under state ownership, according to a report seen by the Guardian.

The Labour leader, Keir Starmer, has committed to creating “a publicly owned national champion in clean energy” named Great British Energy.

Related: Pressure on Hunt rises as CEOs criticise lack of investment support before budget

Starmer is yet to lay out the exact structure of the mooted company, although he has said it would not involve nationalising existing assets, or become involved in the transmission or retail supply of energy.

Starmer instead hopes to create a state-backed entity that would invest in clean energy – wind, solar, tidal, nuclear and other emerging technologies – creating jobs and ensuring windfalls from the growth in low carbon power feed back to the government. [Nuclear is not clean, it is irresponsible dirty]

The Common Wealth report, which analysed scenarios for reforming the electricity market, said that a huge saving on electricity costs could be made by buying out assets such as wind, solar and biomass generators on older contracts and running them on a non-profit basis. Funding the measure could require a government bond issuance, or some form of compulsory purchase process.

Last year the government attempted to get companies operating low carbon generators, including nuclear power plants, on older contracts to switch to contracts for difference (CfD), allowing any outsized profits to flow back to taxpayers. However, the government later decided to tax eligible firms through the electricity generator levy instead.

The Common Wealth study concluded that a publicly owned low carbon energy generator would best deliver on Britain’s climate and economic goals, would eliminate windfall profits made by generators and would cut household bills.

MPs and campaigners have argued that Britain’s energy companies should be nationalised since the energy crisis, which has resulted in North Sea oil and gas producers and electricity generators making windfall profits, and a string of retail suppliers collapsing, costing taxpayers billions. Detractors of nationalisation in energy argue it can stifle innovation and expose taxpayers to huge financial risks.

Common Wealth pointed out that more than 40% of the UK’s offshore wind generation capacity was publicly owned by overseas national entities, meaning the benefits of high electricity prices linked to the war in Ukraine had flowed back to other governments.

The study found the publicly owned generator model would create more savings than other options, including a drive for voluntary CfDs; splitting the generation market between low carbon and fossil fuel sources and a “single buyer model” with nationalised retail suppliers.

The Common Wealth director, Mathew Lawrence, said: “The energy system faces two acute challenges: the staggering profits being made by generators, and the need to rapidly decarbonise generation.

“A publicly owned generator can address both these pressing issues, rebuilding out energy system around the public interest. That is the fastest, fairest, most effective way to build a clean, secure, affordable power system.”

Starmer has cited the success of European energy firms with state backing including Sweden’s Vattenfall and Ørsted, which is part owned by the Danish state.

The authors of the Common Wealth report argued that Great British Energy could be a “powerful tool” in decarbonising Britain, but said ambition akin to the creation of the NHS was needed to make a serious difference.

“An approach to reform that does not go to the root of the upstream problems in our energy system, that does not build out at scale and instead remains a marginal actor in the transition, will be unable to deliver on its potential or, in the case of Great British Energy, its stated goals. In this context, timidity and incrementalism are the greatest risks, and ambition the safest path forward,” they wrote.

https://www.theguardian.com/politics/2022/sep/27/great-british-energy-what-is-it-what-would-it-do-and-how-would-it-be-funded
https://www.theguardian.com/money/2023/mar/06/leading-uk-ceos-attack-energy-support-policy-as-brake-on-investment
https://www.theguardian.com/business/nils-pratley-on-finance/2023/jan/05/labour-great-british-energy-plan-gbe

https://www.msn.com/en-gb/money/other/state-owned-electricity-generation-firm-could-save-britons-nearly-21bn-a-year/ar-AA18j8gR

THE CART BEFORE THE HORSE - The only way to turbo-charge change, is with clean statute. Well done to the EU February 2023. The technology has existed for many years. Manufacturers will now have to build zero carbon cars. Let us hope they do not wait until the last minute, like VW are saying. Energy companies will need to follow suite with infrastructure, or lose their grip on transport fuels. Great news for those considering entering the JVH2. At the moment it is the lack of alternative fuels at filling stations, that is the log jam.

The UK is aiming at 2030, while Norway is ahead of the game in EV sales, with gasoline’s share of the new car market vanishing more every month - faster than anyone could have predicted. This has led Norway to have the earliest target for the phaseout of new gasoline vehicle sales in the world – 2025.

Much of the credit for Norway’s head start can be credited to strong tax incentives for electric vehicles. Gas vehicles are subject to a significant tax, and electric vehicles are exempt from that tax. Where it is clear that gas cars are on the way out, nobody wants to be saddled with a vehicle they won’t be able to fuel in 10 years. Some Norwegian gas stations are already replacing pumps with chargers, after all. But green hydrogen and methanol is lagging.

EXAMPLE OF AN EARLY ENERGY LOAD-LEVELLING PROJECT - 2014

 HISTORIC WORLD 1ST - INBUILT HYDROGEN CARTRIDGE EXCHANGE SYSTEM - SWAPS IN 2 MINS, TO AMMONIA OR METHANOL FUELS

MEANING ANY VEHICLE SO EQUIPPED MAY USE ANY H2 COMPOUND - OR EVEN LITHIUM BATTERIES - FUTURE PROOFING TECHNOLOGY

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  A NATIONALISED ELECTRICITY GENERATOR COULD SAVE BRITONS £21 TWENTY-ONE BILLION POUNDS A YEAR - ACCORDING TO KEIR STARMER AND RACHEL REEVES, LABOUR PARTY PLEDGES

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