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Government intervention of OFGEM
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simax
Posts: 1,976 Forumite
Is there any reason why this government (apart from sheer incompetence) can’t just legally force OFGEM to freeze the price cap for the next 12 months, pending a moratorium on changing how the cap is worked out?
This would surely fix so many issues…. It would mean that energy companies obscene profits would be naturally curbed, it would also slow down the rise in inflation, it would stop the prospect of people starving/freezing to death and it would also stop the prospect of civil unrest. It would bring calm to the markets and mean that the next 12 months can be used to come up with more permanent solutions. Ironically it would probably be an election winner too.
I can’t see any downside to this - it fixes so many issues and is easy to implement. The government seem to be able to change laws at the drop of a hat when it suits them, so why not this? (Possibly because they wouldn’t benefit from the extra tax revenue - but then they wouldn’t need it as they wouldn’t have to pay for extra support 🤔)
This would surely fix so many issues…. It would mean that energy companies obscene profits would be naturally curbed, it would also slow down the rise in inflation, it would stop the prospect of people starving/freezing to death and it would also stop the prospect of civil unrest. It would bring calm to the markets and mean that the next 12 months can be used to come up with more permanent solutions. Ironically it would probably be an election winner too.
I can’t see any downside to this - it fixes so many issues and is easy to implement. The government seem to be able to change laws at the drop of a hat when it suits them, so why not this? (Possibly because they wouldn’t benefit from the extra tax revenue - but then they wouldn’t need it as they wouldn’t have to pay for extra support 🤔)
I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂
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