Guest Post by Robert Bradley, Jr. of Master Resource. In the 1970s – fifty years ago now – The Energy Crisis jolted the U.S. economy, causing shortages and long lines at gas stations. In response, various federal energy policies and programs were passed. And as the decades passed, layer-upon-layer of new federal energy programs and regulations were added, then extended and expanded.
Totally agree with Ronald - in the UK, the Govt, via the energy regulator Ofgem, introduced a price cap for domestic electricity & gas - in effect, it’s now a fixed market as all suppliers price to the cap, even if wholesale prices are low and profits are significantly high - there is no competition anymore, all suppliers offer roughly the same unit prices that are based on the Govt cap - it’s a nonsense that has stopped competition, hence cheaper deals and consumer switching
Totally agree with Ronald - in the UK, the Govt, via the energy regulator Ofgem, introduced a price cap for domestic electricity & gas - in effect, it’s now a fixed market as all suppliers price to the cap, even if wholesale prices are low and profits are significantly high - there is no competition anymore, all suppliers offer roughly the same unit prices that are based on the Govt cap - it’s a nonsense that has stopped competition, hence cheaper deals and consumer switching
Government is ALWAYS the problem!