Mar 28, 2019
Labour to outline National Grid ownership plans
Labour is set to release a policy paper outlining how it will transfer the UK's National Grid to public ownership. In its paper, the party says the Grid - a public limited company which is listed on two stock exchanges - will be run by a new National Energy Agency. Labour says public ownership - majority or controlling shareholding by the government - would lower bills for consumers. The Labour paper says the companies that own the UK's energy networks have paid out almost £12bn in dividends to shareholders over the last five years. Network costs make up more than one-quarter of gas and electricity bills in the UK. Privatised distribution network operators allocate electricity from the transmission grid to homes and businesses in 14 geographical areas.
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