Nigel Pocklington, chief executive of household supplier Good Energy, said: “This is a national crisis. Wholesale gas and power prices have increased to unprecedented levels over the last three weeks … no-one in the industry is immune.”
Emma Pinchbeck, chief executive of Energy UK, said: “As the energy sector has been warning for weeks now, the unprecedented and alarming cost of gas across Europe will be the biggest issue facing the UK economy in the spring.
“We need action from the UK Treasury on this huge inflationary risk to business and economic security, and for all the ordinary people who will be facing a 50pc increase in their bill.”
It’s a global – OK, regional – price. What can the Treasury do?
Lift the price cap – but that doesn’t change wholesale prices. Go fracking? They’ve screwed that pooch. Anything else? Well, no, not really.