Did share prices shudder as Andy Burnham unveiled Great British Grid (GBG) as a public sector challenger to the trio of private sector firms that own and operate the electricity grid? Not exactly. National Grid and SSE, the two listed in London, were down by about 0.5%, in line with the wider market.
That mild reaction looks correct. For all the talk of greater public control over the electricity grid, the prime minister is not threatening to nationalise anything or take control of any existing assets. As the detail of the energy department’s announcement made clear: “Great British Grid will complement, rather than replace, the existing institutions responsible for Britain’s energy system and the role of existing network operators remains unchanged.”
