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Britain’s ruling Conservatives have imposed some awful energy policies in recent years, but their cap on household energy bills deserves a special mention. The scheme has been an economic loser, and now it’s becoming a political loser in ways that illustrate the dangers when parties of the right play socialism lite.
That cap is supposed to limit household costs for electricity and natural gas, which most British homes use for hot water and central heating. It’s set twice a year by the industry regulator based on prevailing global energy prices. At the last adjustment, which took effect in April, households saw their energy bills shoot up some 54%, and the October rise is likely to be about as big.
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