Jeremy Corbyn may save on €140bn buy-out plan cost

The UK’s Jeremy Corbyn may have found a way to make good on his pledge to nationalise the British energy industry without spending almost €140bn buying up the six biggest utilities, writes Rachel Morison

The leader of the opposition Labour Party last weekend indicated he wants to bring grid companies under state ownership, including a web of 15 closely-held companies that own local power distribution cables and pipelines that feed directly into homes and businesses. He accuses the industry of ripping off consumers with excess charges to drive profits.