Source: www.powerlineblog.com - Wednesday, July 08, 2015(Steven Hayward) Illuminating (heh) story from this morning’s Wall Street Journal : Power Companies Are Overcharging U.K. Customers, Government Probe Finds LONDON—Britain’s six biggest power companies have been overcharging customers by about 5%, a U.K. government investigation said Tuesday, but the report blamed green-energy subsidies , a lack of competition and transparency and ineffective regulation for higher prices. (Emphasis added.) Only government can subsidize something and still make its retail price go up. Of course—whenever a government scheme backfires, you always go with Ralph Nader Hymnal Refrain Number One, sung in C-major, and call for More and Better Regulation! It’s not just limited to Britain: Governments across Europe have been seeking to address public outrage over higher energy prices amid green-energy subsidies and other measures. The U.K., Spain and Greece have moved to cut renewable-energy subsidies as part of steps designed to reduce electricity bills in the past year, after consumer power costs in Bulgaria sparked protests that toppled the government in 2013. . . Regulations designed to simplify prices aren’t working , the authority said, adding that it was considering whether to bring in “transitional” price caps on the most expensive prices to protect customers until other measures have led to a more competitive market. Regulations not working? As I say, start singing the Nader Hymn #1. But remember, All Related
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