Re-nationalisation – time to consider?

I was never against the concept of privatisation of our public utilities from the viewpoint of political principle. My opinion was to try it and see if it works. I even bought shares in some companies, like the former Railtrack and sold them at a profit.

After all, our public utilities were not greatly loved before Thatcher threatened privatisation. Did we love striking, go-slow British Rail? Did we love the water boards or Post Office Telephones? Not really.

But the latest price rise by NPower has made me wonder if the time has not come for selective re-nationalisation of poorly performing utilities. Similarly First Great Western’s local rail services are abysmal and maybe a new public sector organisation could be formed to take over the franchise. This has happened locally, where refuse collection is now done directly by the local authority again after a period of being contracted out.

I know energy prices are likely to rise as a long term trend whatever we do because supply of fossil fuels will become more difficult as they run out, but if the power industry is publicly owned. it will not have money creamed off by shareholders or huge bonuses to directors and chief executives.