In 1970 the UK domestic electricity grid and generating plants had been state owned since 1948, and was basically run by civil servants. This lasted until 1990-91 when it was all privatised by the Thatcher and Major governments (both Conservative).

Now in 2026 the main generators are EDF (French state owned), RWE (German), and Scottish Power (Spanish owned). These companies tend not to publish executive pay, but back in 2012 the CEO of EDF in the UK was being paid £1.2 million a year.

I would submit that all this has some bearing on why the prices have gone up.