A plan by Britain's opposition Labour party to take the country's ener...
- A plan by Britain’s opposition Labour party to take the country’s energy networks back into state ownership would damage investment and delay the move to greener energy sources, National Grid said on Wednesday.
A Labour document, published via twitter, showed, if elected, the party plans to re-nationalize the country’s 60-billion-pound plus energy networks and establish a National Energy Agency to run the country’s energy systems. National Grid owns and operates gas and electricity transmission networks in Britain, along with other assets. It has a market capitalization of 29 billion pounds .
British regulator Ofgem was told by parliament last year to cap energy prices after lawmakers said customers were being overcharged for electricity and gas. Prime Minister Theresa May had called the tariffs a “rip-off”.
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