Ofgem scratches National Grid’s back

Today’s Mail Market report says National Grid are to be allowed to “recover some costs” from consumers.

Gas regulator Ofgem has changed its stance so as to incentivize National Grid to replace the critical Humber Estuary pipeline.

This looks similar to the culture of subsidies and bailouts in the rail industry.

Can you still call it privatization if private foreign shareholders take healthy profits while raising prices to kindly allow the British public to chip in for vital infrastructure?

The word racket springs to mind!

Business as usual

International investors must be licking their lips getting ready to tuck in.