The Case for Public Ownership in the Energy Sector

There is a persuasive case that the public ownership, particularly in the energy sector, is cheaper than the risky private energy or private renewables. So there is a kind of short term fiscal hawks to be made for public ownership. But we also need a change in the way that that we think about the state's balance sheet where the state will have to have a much larger balance sheet at the moment. And what we don't have enough of is building institutional capacity for the state to either discipline private capital into climate strategies or to organize itself.