Monday, 25 November 2019

They're fleeing already

So went Boris Johnson's first commons address, to much merriment and memes.

However, in these unsettling times, this is now also true of our UK utility companies. Even the BBC has had to pick up on what the Energy and Utility companies are up to.

Having viewed with some displeasure the Labour decision to nationalise their entire sector and not being entirely trusting of the goodwill that will be shown towards their shareholders, they have acted.

National Grid has chosen to open a holding company in the EU. No mistaking here that the EU will not allow such government theft as is planned by Labour so the Grid is hoping EU law will still trump UK law (which of course, under Labour it will, when they remain - odd how events work out).

SS&E have chosen Switzerland where there is an Energy law they think they can take to International Arbitration in Geneva now that they have a Swiss Holding company.

Of course, Labour have reacted with some nonsense about billionaires and evil offshore folk. All very serious as ever. 

Very sensible corporate planning by the Utilities though, much as companies nervous about Brexit have set-up already in the EU.

What it shows yet again is how hot air from Politicians have real world impacts. I have some sympathy with those saying our politics is no good when both sides lie. here is a good example of how real costs - that ultimately will be passed to consumers - are incurred by rash statement from politicians.

2 comments:

Nick Drew said...

I saw that, it's very funny indeed

(Probably won't get a lot of airtime, though)

Michael said...

"What it shows yet again is how hot air from Politicians have real world impacts. I have some sympathy with those saying our politics is no good when both sides lie. here is a good example of how real costs - that ultimately will be passed to consumers - are incurred by rash statement from politicians."

Spot on, CuS!

It's long been a Scrobs' mantra, that when thick, stupid politicians start making claims like global warming, etc, they unwittingly create a market, which can be worked by people much cleverer than elected buffoons!