Pass law to transfer ownership of energy firms to public by compulsory purchase

Rejected 9 signatures

What the petition asks

Pass law which allows public to buy all energy firms including gas, electric, petroleum, nuclear and distribution networks.
Part fund the public purchase of energy firms with £11.7bn announced as Energy Bill Support Scheme. If viable, further fund from £37bn announced for Cost of Living Assistance.

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 owned these firms, then all the profits will flow back to public.

Why it was rejected

There was already a petition about this issue. Duplicates are rejected so signatures collect in one place.

You may wish to sign this petition which calls for the same action: Nationalise energy companies

Timeline

24 Aug 2022	Petition opened for signatures
26 Aug 2022	Rejected by the Petitions Committee

Key facts

Signatures 9

Status Rejected

Rejected 26 Aug 2022

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