Ed Miliband’s plan to cap consumer energy costs until a new regulator can be introduced has gone down well at the Telegraph, from which a top Centrica shareholder complains of “Economic vandalism”. The online coverage follows a front page lead story scaremongering about “power shortages” — AKA the lights going out.
So it’s a good job paper wasn’t extolling the virtues of capped energy bills two days ago. Errrr …
“If you haven’t already fixed your energy costs we recommend that you do so immediately … Our free and impartial service searches all of the suppliers and tariffs available to provide you with a clear picture of how much you could save. With many suppliers recently launching long-term fixed tariffs, you could grab a deal that would insulate you from any rises for as long as three years.”
Some of the capped deals offered via the Telegraph’s commercial partner — and from which the paper will profit — are even longer than Miliband’s proposed cut off date of “the start of 2017”:
“Big Six supplier npower are also offering a long-term fixed deal, with their Price Protector March 2017 tariff seeing costs fixed until March 31, 2017, the longest on the market currently and an average cost of £1,341 per year.”
So energy price caps are a great idea … until Ed Miliband proposes it, in which case it’s dangerous socialist nonsense.