As Dale Vince (Ecotricity) points out, all that is required to reduce energy prices (specifically electricity) in the UK is to remove the requirement from the auction system that the price is dictated by the highest bid (nearly always that made by gas).
Breaking the link with gas prices (and allowing each energy source to be supplied at its actual bid price) would immediately reduce energy prices across the country.
Moreover the Govt. has the power to do this, they just don't!
#energy
h/t FT
GeofCox
in reply to Emeritus Prof Christopher May • • •Fishd
in reply to GeofCox • • •The fact we continue to allow critical national infrastructure to remain in the hands of private for-profit companies is just beyond belief.
These companies receive subsidy after subsidy, have the reassurance of government bailout if they screw up and still have the gall to overcharge and extort.
Their lobbyists should be exposed and the deals they do subjected to public scrutiny.
GeofCox
in reply to Fishd • • •The Thatcher model of 'regulated' private monopolies running essential infrastructure is obviously fundamentally flawed. There are private contractors involved in delivering aspects of public services everywhere, but as far as I know this stupid Thatcherite model, in which the actual public assets are handed over to profiteers, then expensive and ineffective regulators set up to stop the profiteering, is I think pretty unique to the UK (and especially to England).
Oh for an honest politician who will just come out and tell the truth - that it was all stupidity.