Now Ofgem says that a range of government interventions, even renationalisation, are needed if new investment is to be secured. I think everyone accepts that the market needs reform to incentivise investment but what we need is a better designed market, not state direction. That is a recipe for electricity that is more expensive, less reliable and not very green when the wind doesn’t blow. There is a case, dare I say it, for defaulting on the EU’s doctrinaire insistence that we invest in renewables and set in place incentives to save carbon instead, by whatever means energy companies find it cheapest to do so. What the past 30 years show us is that the move to low carbon technologies would be better left to thousands of competing companies with different expertise, than centralised in the hands of a few civil servants. Which would you trust more to keep the lights on, the vacillating boobies at Ofgem, or a free energy market?
Whatever next? Discovery of ursine pooh in the forests?