Two top energy firms say they have moved ownership of their UK operations overseas to protect themselves from Labour’s nationalisation plans. In recent months, National Grid has opened offshore holding companies in Hong Kong and Luxembourg, while SSE has incorporated in Switzerland. As first reported in the Sunday Times, it would not stop them being taken over but could protect investors. Labour said the “rip-off” move showed the grid needed to be in public hands.
BBC 24th Nov 2019 read more »
Guardian 24th Nov 2019 read more »
FT 25th Nov 2019 read more »
Labour has accused two of Britain’s biggest energy operators of “prolonging the rip-off” of consumers after they shifted their ownership offshore in order to complicate the party’s promise to renationalise them.
Times 25th Nov 2019 read more »