Ed Miliband was another minister taking complete and utter bollocks nonsense in interviews he gave yesterday in his case on the energy price increase.
His claim was that his private equity hedge fund nationalised energy company, UK Energy, would make home-produced energy that would cut the cost of energy supplies to domestic customers, and yet, as my blog post yesterday explained, this is total nonsense. UK energy customers pay the price of the energy that costs the most to produce in this country as a result of our absurd energy price regulation. He said nothing about changing that regulation.
The point is that because of that regulation, nothing Ed Miliband is doing will in any way change the price that UK consumers will pay. That is because, under existing rules, all that existing regulation would permit would be more profit-making by domestic energy producers at a cost to UK consumers. UK Energy will literally do nothing for the UK consumer in that case.
Either Ed Miliband is ignorant about this, which is unforgivable, or, alternatively, he is lying through his back teeth, which is what I think he is most likely doing, although that is, of course, pure speculation on my part.
Whatever the explanation might be, Miliband was grossly misleading in what he said yesterday. Time and again, Labour ministers prove their total lack of suitability for office, and Miliband is as high as anyone else on that list.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Buy me a coffee!
Agree 100% with the main thrust..
My dealing with people in the Commission (at the political level) suggest that Milband is advised by a combo of the world’s 2nd oldest profession (consultants) and marginal market religious fanatics (Our market which art in heaven .. etc). Thus on behalf of Mr Miliband, I plead a combo of pig-ignorance and bad advice – m’lud – please take this into account when sentencing.
🙂
All I see is a man who has been reduced to being a hologram, like most of Labour.
He is a glove puppet, an avatar for market fundamentalists.
Mind you, it pays well! Maybe not enough for some here to forego their principles, but Ed and his brother have a dynasty to uphold after all.
But why the hell don’t BBC interviewers ask the innocent question of why we price energy so as to maintain the profits of the most expensive producers (gas), and how can British Energy possibly reduce the price while we keep this pricing system?
BBC editorial guidelines include ‘ to educate and inform’. Broken every day.
I wish I knew.
I’ve given up on BBC News. It’s very biased. I watch Sky News now, which to me doesn’t appear as biased as BBC. I may well be wrong, in which case I hope someone will point me to something better.
Sky is definitely better
I think this supports you argument, Richard (and others): https://www.ref.org.uk/ref-blog/384-discarded-wind-energy-increases-by-91-in-2024#:~:text=In%25202024%2520the%2520consumer%2520paid,cost%2520of%2520%C2%A3310%2520million.