‘We need successful energy companies in Britain, we need them to invest for the future,’ said Ed Miliband in his conference speech, as though channelling my thoughts at the very moment I was writing last week’s item on the lack of a national energy strategy. Then he ruined it: ‘If we win the election, the next Labour government will freeze gas and electricity prices until the start of 2017. That’s what I mean by a government that fights for you.’
And that’s what we all mean by politicians making ill-conceived promises for short-term gain. George Osborne’s response? ‘Any politician would love to tell you that they can wave a magic wand and freeze your energy bill… Companies would just jack up their prices before the freeze… And companies would not invest… and build the power stations we need — so in the long term, prices go up. That’s Labour’s offer: get hammered with high prices now, get hammered with high prices later… But don’t worry, there’s a phony freeze in between.

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