Energy companies should help households, not shareholders
Plaid Cymru Shadow Energy Minister Llyr Gruffydd has called for a new Welsh energy company to break the stranglehold of the Big Six energy firms.
Speaking ahead of Plaid Cymru’s annual conference this weekend, Mr Gruffydd said that a ‘not for dividend profit’ company, similar to Glas Cymru in the water industry, would put customers before shareholders – with all profits reinvested back into getting a good deal for Welsh families and households.
The Party of Wales will be debating the challenges of an energy policy for Wales in their conference in Aberystwyth with a debate around a specially commissioned paper on the subject.
Discussions will include pricing for household consumers and energy security for Wales in the future.
Party of Wales energy spokesperson Mr Gruffydd said:
“For far too long, the big six energy companies have hiked their prices when the wholesale cost of energy goes up but don’t bring it down when they reduce.
“A Welsh national energy company, an Ynni Cymru, would follow the same successful model as Glas Cymru has done in the water industry.
“This Welsh energy company would buy gas and electricity at wholesale prices and sell direct to Welsh consumers and businesses.
“The company could be set up by the government at arms-length.
“Profits made would be used for protecting consumers from volatile wholesale prices and introducing energy efficiency measures to keep costs down for families and households.
“When we see that gas price hikes were the highest in Europe in 2011, and have risen consistently, then it is clear that families have not been best served by the private energy market.
“Plaid Cymru believes that we should move towards a system where investment and long-term development take priority ahead of shareholders’ profits.
“That is why at our party conference this weekend we will be having detailed discussion about the energy industry, including how we can ensure best value for hard-pressed families and a long-term energy policy for Wales.”