Labour’s energy renationalisation ‘could cost billions’

The cost of Labour’s energy renationalisation plans could total £55.4 billion, if only the transmission and distribution networks were taken under government control. That’s according to a new report from the Centre for Policy Studies (CPS), which suggests a wider renationalisation of the energy sector could see the final total rise as high as £306 […]

Labour vows to nationalise energy and water

The Labour Party has vowed to nationalise the energy and water industries if it wins the next general election. Speaking at the Labour Party Conference in Brighton, Shadow Chancellor John McDonnell said: “Rail, water, energy, Royal Mail – we’re taking them back.” Politicians would decide if full market value is awarded when they are taken […]

Lord Lawson slams Energy Bill as “worse than old-style nationalisation”

Lord Lawson yesterday laid into the Energy Bill as “worse than old-style nationalisation” and questioned why it gives powers to the Energy Secretary to sign off deals with companies to provide power firms. Yesterday the legislation continued its passage through the House of Lords. The former Chancellor of the Exchequer weighed in against the bill […]

Hungary ready to take gas plant off E.ON’s hands

Hungary will finally take back the gas power business it once sold to German energy giant E.ON next week. In March 2013 the Hungarian Government agreed to pay €870 million (£730m) to E.ON for two companies, the country’s largest gas supplier Földgáz Trade and storage services firm Földgáz Storage. About 250 people work at the firms […]

Mexico opens arms to energy investors

Mexico is on the brink of the biggest change to its energy sector in decades. President Enrique Peña Nieto has proposed the state-owned oil firm Pemex should be able to cooperate with foreign energy companies in future on projects such as drilling in the Gulf of Mexico. The nation’s energy market has operated with a […]

EU warns Bolivia after it nationalises Spanish power plants

The Bolivian Government has nationalised two Spanish-owned energy companies in the country, prompting the European Commission to warn it against sending negative signals to foreign firms. Bolivia’s electricity sector was privatised in the 1990s but a week ago its President Evo Morales (pictured) signed a decree to take control of the distributors Electropaz and Elfeo, […]