Over the last two years or so we've commented several times on just how much £££ (and €€€) will need to be spent on new power plants and other energy infrastructure over the next couple of decades, assuming we don't want the lights to go out. It'll need to be even more - infeasible sums, in fact - if "full de-carbonisation" is to take place by 2050 (© Little Ed Miliband 2009).
Where will it come from ?
In recent days I've been spending time with groups of eager would-be investors. They are dead keen to find ways of investing their large amounts of money that aren't dollar denominated: and they are enthusiastic about the idea of European steel'n'concrete assets in essential sectors like electricity. They are Chinese, Taiwanese, Korean and Indian. Some of them are already quietly setting up shop here and staking us out.
There's one problem. They all say they don't like political risk ... and they don't like unions ! Can't be doing with them.
Unions or electricity ? Electricity or unions ? I wonder what we will decide. How very different the 21st C is going to be.