Nexus

UK Energy Crisis Explained

Exclusive leaks show that the UK’s top energy firms are set to make almost $200 billion in excess profits over the next two years. Meanwhile, energy bills are set to rise to their highest levels in 40 years creating a cost of living emergency. Energy bills could climb to nearly $9,000 annually, well above the previous $2, 280 price cap. Are energy companies and the UK government prioritising profit over people, and profiting off misery? Nexus speaks to Patrick Boyle, a Professor of Finance at King's College London who thinks that a botched transition to clean energy has left Europe at the mercy of a historic energy crisis. Johnbosco Nwogbo is the Lead Campaigner at ‘We Own it’, a pressure group that favours the nationalisation of energy companies to curb corporate greed. Adam Scorer is the Chief Executive at National Energy Action, one of the UK’s leading charities tackling fuel poverty, who believes that the government has no choice but to address the cost of living emergency and Andy Mayer, Energy Analyst at the Institute of Economic Affairs who says nationalisation of energy firms is a terrible idea.

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