Who owns our Energy
In many other countries including France, Germany, Italy and the US, it’s normal to have publicly owned suppliers selling electricity and gas directly to consumers. But in the UK we don’t have that option.
Your electricity and gas comes to you from a system that is owned by billionaires, foreign states and shareholders around the world. Households and businesses are paying too much and there is a lack of investment in the infrastructure.
At every stage private profits are extracted from you - that includes generation, transmission, distribution and supply. Energy is a public good - we need public ownership.
Scottish & Southern Electricity Networks: 75% owned by SSE plc and 25% by Ontario Teachers’ Pension Plan. SSE plc is 70% owned by institutional shareholders including JP Morgan (4.7%), a Canadian pension fund (3.4%) and the Norwegian government pension fund (3%)
ScottishPower: owned by Spanish company Iberdrola
National Grid: Publicly traded on the UK stock exchange but includes institutional investors like US asset management firms BlackRock (around 10%) and Vanguard (around 4%)
Northern Power Grid: Owned by Berkshire Hathaway Energy, which is owned by US billionaire Warren Buffett
SP Electricity North West: 88% owned by Spanish company Iberdrola, 12% owned by Japanese consortium
UK Power Networks: Owned by French company ENGIE