Hypocrisy and corruption, thy name is Labour and – National Grid staff make out like bandits whilst raping the countryside and wiping out native animal species with “net zero” policies
How can this be moral, ethical or economic – let alone achieve a better “climate” for the UK or the planet
PETER HALLIGAN
From here:
Miliband staff in conflict of interest row over National Grid shares
A while ago, the Labour government spent £630 million to direct 90 billion of spending by National Grid plc – which it nationalised without seekig competitive bids from the private sector.
“The National Energy System Operator (Neso) was hived off from the National Grid in October 2024 and tasked with overseeing the electricity operator on behalf of billpayers.
“The UK government completed the acquisition of National Grid’s Electricity System Operator (ESO) for £630 million, transferring it into public ownership as the National Energy System Operator (NESO) effective 1 October 2024.”
This was not a competitive bidding process – it was a compulsory purchase by the “state”.
The mark value of National Grid is far larger than just the transmission assets:
“National Grid, which is worth £57bn, is integral to Mr Miliband’s goal of generating 95pc of electricity from clean sources such as wind and solar. This is because it is responsible for building the cables and pylons required to transmit green power across the UK.”
The value of NESO has not been determined by anyone, however, this story is about the shares in National Grid owned by past and current staff.
“Neso confirmed that staff have been allowed to retain their shares in National Grid but stressed that they would be subject to a declaration process under Neso’s share ownership policy.
“a declaration process?!!! – so get the bribe and get legal immunity if you declare the bribe!!!
“They refused to say how many of its 2,000 employees still own shares in National Grid.”
“Shares in National Grid have increased by more than 20pc over the past 12 months, with investors rallying behind the company, owing to increased demand for renewables.”
The increase in the share price is, in large part, due to forced government actions in rolling out “ net zero” measures that ban the provision of all competitive energy sources
“National Grid, in particular, is about to embark on a £90bn expansion plan by upgrading the nation’s high-voltage power lines, substations and other transmission infrastructure.”
Pay £630 million from taxpayer funds, force spending of £90 bn – with “net zero” accountability!
And the staff?
“For staff, however, the move to Neso meant they lost access to discounted National Grid shares, a highly valued perk.
“Members of Neso’s leadership team who moved from National Grid were obliged to sell all shares but were compensated with a lucrative long-term bonus scheme.
How nice – leaders of National Grid who transferred to NESO were “compensated” – by who and by how much? the taxpayer or National Grid? The usual hallmarks of a corrupt process.
This is/was a bribe – plain and simple, the scale is revealed, a little below:
Starting with the CEO:
“Fintan Slye, Neso’s chief executive, was paid an annual salary of £288,000, with a bonus of £275,400, plus other benefits that took his total remuneration to £774,000.
Slye by name, sly by nature? He is now a public servant working for a QANGO!
It’s not jus the CEO, though his bribe was far larger!
“A National Grid spokesman confirmed that shares had been offered to Neso staff at a 20pc discount for six months but that the scheme was now closed.”
Wow, 20 per cent discount? On National Grid? – a publicly listed company!!! We should all be so lucky – why wasn’t every bill payer offered shares at such a discount? Why not also for BT, BP, Rolls Royce, BAT, Tesco and their listed UK shares?
NESO has been formed with public money and given monopoly powers by a corrupt government.
“Neso is constituted as a private company controlled by the Energy Secretary, and so is not covered by the UK Corporate Governance Code or the Wates Principles on managing public companies.”
Constituted with zero private funds – so it is simply not covered by UK governance laws.
Meanwhile, the UK countryside, flora and fauna continues to be raped by Mad Miliband!
Miliband faces court battle over huge solar farm as residents warn it’ll ‘destroy’ the countryside
“Helios Solar Farm, near Selby, North Yorkshire, was given the greenlight by the Energy Secretary last month, and campaigners are furiously fundraising to bring a legal challenge against it.
“If completed, the project would be one of the largest of its kind in the UK, covering 1175 hectares of agricultural land west of the village of Camblesforth and producing 190MW of power.
“Mr Ward said the development would knock out ‘prime agricultural land’ that is home to ‘deer, barn owls, bats, loads of birds of prey’ and that provides recreation for horse riders and ramblers.
Miliband is raping the countryside and murdering/ wiping out indigenous native species – no-on has the whit or intelligence to point the madness out.
And point to alternatives that cost a fifth of the construction costs of “renewables”, produce electricity at one tenth the price to households compared to the power generation costs of “renewables”).
Rape of the countryside, eradication of native species, all funded by bribery and corruption and designed using flawed models – such is the nature and style of socialist government.
Corruption and insanity – the hallmarks of a (socialist) Labour government!!!
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This article (Hypocrisy and corruption, thy name is Labour and – National Grid staff make out like bandits whilst raping the countryside and wiping out native animal species with “net zero” policies) was created and published by Peter Halligan and is republished here under “Fair Use”
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