Unite press release

For immediate release: Thursday 18 May 2023

Profits for a failing National Grid strengthens the case for energy nationalisation

National Grid profits swell to £4.6bn amid green energy delays

National Grid’s rewards for failure only serve to strengthen the case for energy nationalisation. 

Unite general secretary, Sharon Graham said: “This result demonstrates National Grid has gouged billions in profits but it’s not delivering on its climate targets. The monopoly’s failure to invest for a net zero future and the government’s refusal to force the company to do so is more proof the UK’s energy sector is broken.

“It’s abundantly clear that profiteering is endemic across the energy sector and something needs to be done about it.

“National Grid’s reward for failure only serves to strengthen the case for nationalisation.  Unite’s new report calling for energy nationalisation shows that taking public control of the UK’s energy network could reduce bills, reduce inflation, and pay for itself in a few years.”

 Unite Investigates “Renationalising Energy - costs and savings considers how a publicly run energy network could use the massive profits of Britain’s energy giants to reduce household bills and fund the transition to a green future with secure jobs.

Unite Investigates’ report  is the first to determine the potential costs and savings of taking public control of the entire UK energy network – including North Sea oil and gas production, electricity generation, transmission and distribution networks, and supply companies.

The report reveals that companies made £45 billion profit from the UK domestic energy system in 2022. If that money had been kept in public hands, it could have been used to save each household £1,800 on their energy bills. Read Unite general secretary, Sharon Graham’s interview in today’s FT.


For more information please contact: Ciaran Naidoo on 07768 931 315 

Email: Ci[email protected]

Twitter: @unitetheunion Facebook: unitetheunion1 

Unite is the leading union in the UK and Ireland, dedicated to defending and improving members' jobs, pay and conditions. The general secretary is Sharon Graham