#lab13 The reactions of energy companies to Ed Miliband’s modest proposal to challenge market failure and impose a 20 month price freeze (from 2015 to 2017) in utilities prices are as predictable as they are hysterical. Today’s media references to ‘disastrous consequences,’ ‘economic ruin’ and ‘power cuts’ reflect the determination of corporate interests to resist political regulation let alone a return to public ownership.
Neil Clark of the Campaign for Public Ownership has pointed out ultimately more radical measures will be required to resolve the underlying problem: ‘the experts tell us that we need more competition in the energy market. We need more regulation. We need the government to ‘get tough’ with the utility companies and make it easier for us to switch providers. But the reason why our utility bills are so high and continue to rise year after year above inflation is a simple one indeed. It is the same reason our rail fares are so high and continue to rise year after year above inflation. It's called privatisation’
http://campaign4publicownership.blogspot.co.uk/2013/04/energy-crisis-answer-is-obvious.html
The Guardian reports that in 2012 the amount of cash in the pockets of British workers will fall for the third year running. Research by the Centre for Economics and Business Research (CEBR) says that rising food, clothing and fuel prices compounded by "anaemic" wage rises will lead to another fall in households' disposable incomes. CEBR economists forecast a 0.2% decline on top of a 1.3% fall in 2011:
http://www.guardian.co.uk/business/2012/jun/04/inflation-economics
