Corbyn would nationalise Big Six energy firms

But how would it work?

Jeremy Corbyn has said that if he is elected Labour leader he will aim to nationalise Britain’s energy supply.

This could be achieved by the government buying up shares in the Big Six energy firms, until it had bought a controlling stake, he said.

In addition Corbyn said the National Grid should come under state ownership.

Speaking to Greenpeace, Corbyn said: “I would want the public ownership of the gas and the National Grid.

“I would personally wish that the big six were under public control, or public ownership in some form.”

He added: “You can do it by majority shareholding; you can do it by increased share sales, which are then bought by the government in order to give a controlling interest.”

The Big Six energy firms are: British Gas, Npower, SSE, Eon, Scottish Power and EDF.

A surge in support for Corbyn has seen bookies shortening odds on a Corbyn win, and the 66-year old left-wing candidate is now just behind favourite Andy Burnham to win the leadership.

Corbyn has previously said he would seek to renationalise the UK’s rail network, a policy which Burnham also signed up to earlier this week.

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