Switcheroo: The perils of capping energy prices

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The Tories poach a bad idea off Labour

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WHEN Ed Miliband committed Labour in 2013 to freezing Britain’s energy prices, David Cameron, who was prime minister at the time, accused him of wanting to live in a “Marxist universe”. Less than four years later, the threat to rig energy prices has resurfaced in this election. This time the aspiring Marxist is Mr Cameron’s Tory successor, Theresa May.
On April 23rd the government said that setting a price ceiling for the large majority of gas and electricity customers on the highest tariffs would be part of the Conservative manifesto, which is due out on May 8th. It insisted that such a cap was different from Mr …

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