In her weekly Spectator column, IEA Director of Communications, Annabel Denham, suggested the current energy crisis is a result of the government’s “muddled energy and climate change policy“.

A shortage in the supply of gas, in conjunction with state imposed price caps and green levies, has caused unhedged companies to go bust. This has led to calls for the nationalisation of the energy sector.

Annabel argued: “there is no justification for expecting the taxpayer to write a blank cheque to unsound businesses. Instead, market forces should be allowed to work, and if relative prices change to balance supply and demand as a result, so be it.”

Annabel added: “It doesn’t take an energy expert to see the flawed logic here. If we are to take climate change seriously, are higher prices not desirable, provided the poorest in society remain protected? If we want resilient companies, don’t they need the freedom to set market prices and make a profit?”

Read the full article here.