Jeremy Corbyn has drawn up plans to take control of Britain’s energy networks in a multi-billion pound power-grab modelled on the nationalisation of Northern Rock.

A leaked Labour party document has revealed plans for a swift and sweeping renationalisation of the country’s £62bn energy networks at a price decided by Parliament.

The blueprint, seen by the Telegraph, lays bare for the first time Mr Corbyn’s plan to bring all energy network companies under public ownership “immediately” following a Labour election win.

The party is planning to employ the same legislative tools used to nationalise Northern Rock in order to justify naming its own price for the companies.

Those in Labour’s sights include the FTSE 100 energy giant National Grid, which is worth over £29bn, and the transmission arms of Big Six energy companies SSE and Scottish Power.

The nationalisation agenda will also include all 19 of the UK’s smaller regional gas and power grids and the massive subsea power cables linking the UK to Europe.