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Economics

U.K. Utility Nationalization Plan Unveiled by Labour Party

  • National Grid, SSE would lose their power transmission arms
  • Industry and businss groups question whether plan will work
Cooling towers emit vapor at a SSE Plc coal fired power station.

Cooling towers emit vapor at a SSE Plc coal fired power station.

Photographer: Matthew Lloyd
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Britain’s opposition Labour Party outlined plans to nationalize large swathes of the U.K. energy industry if it wins the next general election, a move that would put government in control of the grid for the first time since 1990.

The measures would put the companies that transmit power and own cables linking with markets in the European Union under the authority of ministers in London. Labour leader Jeremy Corbyn would make the priority to reduce fossil fuel emissions and ensure heat and electricity flow to consumers at lower prices.