Time To Sort Out Energy Prices?

Posted on: 28/09/2013

I did not agree with the privatisation of utilities. It never made any sense to me to allow shareholders to become more important than the Public-you and me-where water and energy are concerned.

However,we are where we are in terms of ownership of UK utilities and I would not advocate the renationalisation of assets.

Regulation is a different issue.The current regulatory framework appears not to be strong enough to either maintain reasonable prices or ensure adequate investment.

Ed Miliband has raised a few hackles by stating that, if elected,he would freeze energy prices for 20 months while his Government devices a new regulatory structure.In putting his views on the table early,he has given the energy industry an opportunity to put their house in order.They should make good use of the time they have available.

Threats of blackouts are not an appropriate response. They are an abuse of the trust the whole nation has placed in those allowed to manage the UKs infrastructure.

A proper response is for the industry to offer long-term price deals to all users.Lets see that response quickly to make Government intervention unnecessary.

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