The TUC has pointed out that it would cost around £2.8bn to buy the big five energy retailers at their current market value – that’s about the same amount the Tory government has spent bailing out just one failed provider, Bulb.
@BasitMahmood91 Even the 2 UK domiciled ones are 10 times that! Centrica market cap £5bn SSE market cap £19bn As for the overseas owned... Scot Power (Iberdrola) market cap €66bn EON market cap €23bn EDF market cap $46bn
@BasitMahmood91 Ridiculously massive undervaluation aside what would that achieve? They buy energy on wholesale markets. Those markets would be the same. Retail margin is only 4%.
@BasitMahmood91 @ShellyAsquith I was going to say the same as @BTLF1 It just wasted 37 billion via covid test and trace Everything is rigged to push money into corporate hands
@BasitMahmood91 Centrica alone has a market capitalisation of £5.2 billion and EBITDA of £1.9 billion. P/E ratio of circa 7 gives a purchase value of £13 billion (less debt, plus cash).
@BasitMahmood91 They're not the ones making the big money though. Energy production prices are the massive issue, not the distribution bit. See how far £2.8bn will get you with buying the UK producers
@BasitMahmood91 If they had nationalised all if the firms that went under & consolidated them into one nationalised provider half of customers would be under national service provision & the big 5 would be visrtually worthless. Nationalisation should be a priority of next labour government.
@BasitMahmood91 This is what is known as utter bollocks. The market capitalisation of SSE and EoN for starters is around £19bn EACH! That’s current market value as of last night. The TUC are good at this level of nonsense that people lap up. Are they - and you - unable to use Google?
@BasitMahmood91 But the energy retailers aren't energy producers, who ultimately control the prices, so what do we gain by this? You really need ownership all the way through the chain from production. e.g. nationalise the North Sea oil & gas wells.
@BasitMahmood91 @criptheirvote We could get Dido Harding to payback the 37 billion she owes the nation and buy them all, plus the water companies, transport, the post office and give NHS staff a decent pay rise!
@BasitMahmood91 It just wasted 37 billion via covid test and trace Everything is rigged to push money into corporate hands