This petition was submitted during the 2019-2024 parliament
Rejected petition Fund public to buy 51% of energy firms from £400/each EBSS & 0% loans/guarantee
Fund public to buy 51% of all UK energy firms.
Part fund public buy with £11.7bn as Energy Bill Support Scheme & from £37bn for Cost of Living Assistance. Fund rest with 0% loans to public and gov't loan guarantee.
Change constitution of firms to 1 entity 1 vote no matter how many shares they own.
More details
Energy firms are making huge profits, while public is struggling to make ends meet, and energy costs are set to rise even further.
Guardian reported big oil firms making £200bn/yr (£100bn/6M). Financial Times reported operating earnings of over 40% by distribution networks. In 2016, Competition & Markets Authority suggested that 1.25% margins would provide normal profits, but firms were charging margins of around 4%.
If public control these firms, then all the profits will flow back to public.
This petition was rejected
Why was this petition rejected?
It’s not clear what the petition is asking the UK Government or Parliament to do.
Petitions need to call on the Government or Parliament to take a specific action.
We're not sure exactly what you'd like the Government or Parliament to do.
You could start a new petition explaining clearly what you would like the Government or Parliament to do.
We only reject petitions that don’t meet the petition standards.