We can – should even – test these claims of government competence to run the electricity companies by looking at their ability to run the ones they do run:
Jeremy Corbyn’s electricity supplier has sparked financial deadlock for the council behind it, amid mounting industry anger over state involvement in the energy market.
Robin Hood Energy, Britain’s first council-owned energy supplier, which counts the Labour leader as its most famous customer, has caused a delay of three months to the publication of Nottingham City Council’s accounts.
Officials have been unable to sign off on the books because they are waiting for information about Robin Hood, which has hit financial trouble. The company’s accountant, BDO, is yet to finish its audit.
The accounts for the council can’t be signed off because it’s not possible to work out how much Robin Hood Energy owes. Thus, how much the council might be liable for.
There is one but of the saga that is fair and true:
There is no hint of a profit, only losses. So much so that they’ve been collecting and then not passing on the renewables subsidies:
Robin Hood Energy, the energy supplier owned by Nottingham city council, has failed to pass on £9.5m in renewable energy subsidies after collecting them from customers through their bills.
The supplier has already claimed the sum from its customers, to be used to support renewable energy projects, but missed the deadline to pay its share of the money to the industry regulator, Ofgem last month.
They had to go borrow that from the council to avoid losing their licence:
He asked the Labour-run Nottingham City Council whether: “Following the reported injection of circa £9.5million the council had to provide to RHE, (would) it be prudent for the council to establish a resilience reserve to ease any unforeseen financial liabilities that may arise in respect of council-owned companies.
“But what I can say from deep, deep personal knowledge and experience, is that there’s a certain mindset of far-left municipal socialism that basically takes huge sums of public money and blows it on ventures to which they become politically attached.”
Seems fair. And guess what? We’re within 6 days of their being able to do that to the entire energy system of the country. What glories, eh?