Europe’s energy crisis

The big six energy companies (Centrica, EON, EDF, Iberdola & SSE) have about 75% of the UK market between them. Today, their combined Market Cap is around £140bn, and their profits last year totalled £15bn (probably more this year). In 2021 UK households spent around £13bn on Gas and £18bn on Electricity to give a total expenditure of £31bn, (this does not include business expenditure). So, with the same £150bn the government is planning to effectively throw away by subsiding prices they could (in theory) buy all the companies making the profits and then ensure we as owners of the companies could have energy pricing we could all afford – of course then HMRC (and other foreign equivalents) would lose a lot of tax revenue….. I’d also strongly suggest the Govt doesn’t try and run them themselves!