The government are scrapping those nasty green taxes on electricity! This will prevent increases in electricity prices!
Well, I mean, not exactly, because all six companies have said they’re increasing their prices. But by less than they were going to! They have to still increase their prices, obviously, due to increases in wholesale costs.
Which, yes, technically have actually fallen compared to five years ago, even while energy prices for the consumer have risen sharply. But green taxes!
Which are less than 10% of the average bill. For instance, subsidising smart energy meters costs the average person £3, out of a £1,267 bill.
But don’t worry! The government’s action is sure to slash energy prices in the long run. Eliminating subsidies for pensioners and the poor to insulate their houses, for everyone to have more accurate meter readings, and to encourage energy firms to invest in renewable energy is exactly what the country needs. Clearly, less energy-efficient housing combined with more reliance on (imported) fossil fuels with volatile (and in the long run bound-to-rise-steeply) prices is EXACTLY the best way to reduce energy bills.
[Yet again, the government gives money to daily mail readers by taking it away from poor households who, we’re told, shouldn’t have decided to be poor in the first place]
Rather than, you know, doing anything about the transparent cartelling behaviour in the six-company oligopoly that is able to set prices at any level it chooses. Which should be an offence to the nose even of hard-right free-marketeers, let alone anybody in the centre or on the left. When exactly did the defence of competition turn into a defence of exactly the sort of pseuomonopolistic market manipulation that the classical economists the right worships at the alter of were so intent on repudiating?