Peter Black states that the agreement reached by Chris Huhne with the energy bosses is not enough. The fact that energy costs are a major contributor to the rise in inflation announced yesterday points up the folly of privatising a natural monopoly, namely the distribution of electricity and gas. For instance, Western Power Distribution recently announced profits of roughly 40% of turnover.
It's a bit rich for Ed Miliband to criticise the coalition government for allowing energy rises to rise, when his party had thirteen years in which to reverse the measures creating the current sellers' market.
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