This timeline outlines the key developments in the United Kingdom electricity industry from the start of electricity supplies in the 1870s to the present day. It identifies significant developments in technology for the generation, transmission and use of electricity; outlines developments in the structure of the industry including key organisations and facilities; and records the legislation and regulations that have governed the UK electricity industry.
ElecLink 51 km 1,000 MW ± 320 kV DC cables within the north running tunnel of the Channel Tunnel interconnector between France and the United Kingdom first energised 1 September.[26]
Margaret Thatcher privatised our energy in 1986. British Gas was floated on the stock market, accompanied by the famous ''Tell Sid'' advertising campaign which promised us we could still ''own it'' through shares. In 1990, all of the UK''s regional electricity boards were privatised. Most households now get their electricity and gas from the Big Five energy companies (British Gas, Ovo, E.ON, Scottish Power, EDF). Energy is delivered by a privatised grid.
Privatisation was supposed to bring competition and lower prices. However, even before the energy crisis, the real cost of our bills had gone up, consumers were confused and for a country with our coastline, we were making slow progress on renewable energy.
The UK won nature''s lottery with oil and gas in North Sea, and huge potential for wind and hydropower around the coastline. But we''re squandering it, allowing BP, Shell and co to take the profit.
Around 50% of UK offshore wind is publicly owned right now, but only 0.07% of it is publicly owned by the UK. Instead, publicly owned companies from Denmark and Norway take the opportunities and make the profit.
Once energy has been generated, it needs to be transmitted across the country. National Grid is responsible for gas transmission across the UK mainland and electricity transmission in England. You don''t have any choice about this as a consumer - it''s a private monopoly. In 2023, National Grid shareholders received £1.6 billion in dividends - money that could have been reinvested back into the system.
None of the Big Five retail companies (British Gas, Ovo, E.ON, Scottish Power, EDF) is itself a listed market company. All are subsidiaries of parent companies – four out of the five are listed on stock exchanges.
We are delighted that Labour''s plan to set up Great British Energy has been realised. The public want our energy system in public hands. Great British Energy, which would help tackle the climate crisis and lower bills, is the start of this.
1) Nationalise the Big Five energy supply/retail companies2) Introduce a permanent windfall tax on oil and gas companies like Shell and BP, at a rate of 56% (on top of corporation tax)3) Set up a new state-owned renewable energy company to help tackle the climate crisis4) Bring the privatised monopolies of the National Grid and regional distribution into public ownership
Natural resources like oil and gas, wind, sun, hydropower belong to all of us if they belong to anyone. But BP and Shell are multinational companies and it would be very expensive and complicated to nationalise them. Instead we should tax them properly the way that Norway does.
The £5 billion windfall tax the government has already committed to doesn''t go anywhere near far enough. BP made record profits of £6.9 billion between April and June - the highest profits in 14 years. Shell made £9.5 billion in the same time period. These companies have also benefited from huge tax breaks.
It doesn''t have to be this way. Oil and gas companies operating in Norway pay a corporation tax of 22% AND a special tax of 56%. In other words, there is a permanent windfall tax. Norway first invested in developing its hydropower, so today 98% of the country''s energy is renewable. It then used its oil wealth to set up Statoil (now Equinor, 67% owned by the Norwegian state) and to create a sovereign wealth fund for the future worth $1.4 trillion.
Like Norway, the UK should introduce a permanent windfall tax on oil and gas companies like Shell and BP, at a rate of 56% (on top of corporation tax). Norway is paying 80% of people''s bills above a capped price. We should use the revenues to cut people''s bills, invest in renewable energy and pay for further nationalisation policies that will benefit the country.
It''s true that this is a global crisis. But privatisation isn''t helping. In many other countries - like France and Norway - energy bills haven''t gone up the way they have here. Their governments are using public ownership as a tool to help people.
Even before the current energy crisis began, domestic energy bills steadily increased in "real" (ie inflation-adjusted) terms by 50% from 1996 to 2018. In 2013, the Office of Fair Trading aptly described the oligopoly of the big energy companies as a "confusopoly" - deliberate complex price structures. Smaller retailers were running losses to get market share.
Right now privatisation means we- Waste money on shareholder profits- Fail to invest enough in connecting renewable energy to the grid- Miss opportunities to drive forward the green transition, both in terms of new renewable energy and insulating housing
We should start by turning any future retail companies that fold into a public supplier, as we argued when Bulb collapsed. These new companies could keep bills low, plan for fluctuations in global energy prices and investing in renewable energy. The market is in chaos - 40 energy supply companies have gone bust recently, affecting nearly 6 million customers.
About When was national grid privatised
As the photovoltaic (PV) industry continues to evolve, advancements in When was national grid privatised have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient When was national grid privatised for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various When was national grid privatised featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
Related Contents
