Household energy bills have risen sharply in recent months and predictions from market analysts are consistently exceeding those by the UK’s energy regulator. Ofgem announced earlier this month that price caps imposed on energy providers would be updated every three months instead of every six to avoid price shocks.
At present the energy price cap for England, Scotland and Wales stands at £1,971 a year but this is predicted to reach £3,600 in October.
READ MORE: Households underestimate energy bill rises despite predictions
Yet energy industry analysts Cornwall Insight forecasts average annual energy bills could reach £4,266 as soon as January next year.
Charity National Energy Actions reports that one in three – equivalent to 8.2 million UK households – could be forced into fuel poverty as a result.
Labour Party leader Sir Keir Starmer sparked backlash on Monday, August 15, as he rejected calls to nationalise energy firms after announcing a £29billion bills bailout scheme.
He told BBC Breakfast: “The choice we’ve made in our plan is every single penny that’s needed for this plan will go directly to reducing the bills of families up and down the country.
“If you go down the nationalisation route, then money has to be spent on compensating shareholders.
“And I think in an emergency like this, a national emergency where people are struggling to pay their bills, I think the right choice is for every single penny to go to reduce those bills.”
In a poll that ran from 6pm on Wednesday, August 10, to midday on Tuesday, August 16, Express.co.uk asked readers: “Should the Government renationalise the energy companies to get bills under control?”
Overall, 2,875 readers responded with the overwhelming majority, 90 percent (2,576 people) answering “yes” the Government should renationalise energy companies to control spiralling bills.
A further 10 percent (277 people) said “no” and just 22 people said they were not sure.
Hundreds of comments were left below the accompanying article as readers debated whether to nationalise energy companies.
Meanwhile, some readers argued that energy companies should not have been privatised in the first place, like users Cjjs and RonWatts.
Last week, former Labour Prime Minister Gordon Brown called for the temporary nationalisation of energy firms as a “last resort” to keep energy bills low.
But others thought that nationalisation was not the way forward.
Username Tjoepstil said: “If the Government wants to bring energy prices down the last thing it should do is nationalise anything.”
While username ScreenDrifter said: “Absolutely not, it would be a matter of weeks before the unions would be holding the taxpayers to ransom.”