Seriously, dribbling idiots:
In a joint statement on Monday night Mr Kwarteng and Ofgem chief executive Jonathan Brearley said: “Central to any next steps is our clear and agreed position that the energy price cap will remain in place.”
Earlier, Mr Kwarteng told MPs: “The energy price cap, which saves 15 million households up to £100 a year, is staying. It is not going anywhere.”
A government source said on Monday night: “The energy suppliers want to get rid of the cap. It came up multiple times [at the meeting]. But as Kwasi has said, the priority is protecting consumers, and the price cap protects consumers.”
Reality is non-optional. The cure for high prices is, of course, high prices. For they reduce demand and so bring it into line with supply. If you then insist that prices cannot rise to match supply then you guarantee shortages/queues and all that.
If you insist that wholesale prices can move and retail cannot then all the people buying wholesale and selling retail then go bust. That was the mistake California made.
Jesus, Tories are supposed to know about this stuff…..
Sector analysts have warned that, of the 55 energy companies currently existing, fewer than 10 may survive by the end of the year.