Ironically, UK Prime Minister Theresa May’s decision to cap electricity and gas prices resembles the pledge made by former Labour leader Ed Miliband in 2014 – a policy that was derided by the Conservative party at the time. The Tories are expected to include a commitment in their manifesto for the June general election to introduce a mechanism to cap prices that will respond to market conditions. It would be administered by Ofgem, the energy regulator.
May has departed from the traditional pro-market stance of previous...
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