Tuesday, 22 October 2013

Energy price fixing: Fixing up's fine, fixing down's a crime


In his conference speech the Chancellor labelled Ed Miliband's proposal to freeze energy prices as an example of the attempts of "socialism" to "fix prices" which it is the Conservative Party's "historic work" to "put right". 

It is therefore ironic that the Government intends to fix the wholesale price of energy produced by new nuclear power stations at double the current price. It seems that fixing prices at a lower rate in the interests of consumers amounts to what the Prime Minister calls a "con" while fixing them higher to incentivise foreign investment is described by the Energy Secretary as both "good value" and "a good deal". 

One wonders who is being conned.

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