The energy crisis is a global issue - the government cannot change global prices, they are better off investing in improving gas storage, increasing nuclear capability and investing in renewables rather than providing a one-off shot in the arm to the population which does nothing to resolve the enduring supply issues. Unfortunately the government’s energy policy has always been reactive, rather than proactive (this is not just a Tory failing).
The media might like to portray suppliers as greedy robbers, but they aren’t. Energy companies make less than 2% on energy supply and that has to include: procurement, volume forecasting, hedging, regulatory compliance, transmission and distribution, balancing, customer interaction and systems development (list definitely not exhaustive). Nobody in their right mind would run an energy company !! No wonder so many ran off into the sunset (with customer cash) when prices started to rise.
It is true that energy trading and generation have done well, but over the last five years these businesses have had huge losses - nobody was asking to nationalise or bail them out then ! The tax burden on generation is enormous. It’s also worth noting that the profits from generators belongs to their shareholders and not the company itself. Investors include pension funds for example - its in everybody’s interests for energy companies to operate successfully.
Nationalising energy companies would be terrible for consumers - expensive and risky, it could cause prices to rise even further. The government have run Bulb for six months and didn’t bother hedging it at the outset (not even sure that they are now) - that’s cost consumers hundreds of millions of pounds given the subsequent price rises in 2022 (and there were certainly other options at the end of last year when they went under). Furthermore, contrary to popular belief, energy suppliers do want to help consumers and have funds to support vulnerable customers, do contact your supplier if you are genuinely struggling. Don’t just stop paying - you will destroy your credit score and still have to repay money owed.
You can be assured that the government is looking for enduring ’solutions’ to the crisis, but they were wholly unprepared (this isn’t a party political thing, the opposition would have been just as bad) and none of them are a short-term fix. In the meantime lowering consumption as much as possible is the only way to keep costs down.