(FINANCIAL TIMES) - The UK energy sector is in chaos. Natural gas prices have tripled since the start of the year and electricity costs are soaring too. Ten retail suppliers have failed since early August, stranding 1.7 million households.
The immediate blame lies with misguided government policies that prioritised choice over stability, welcoming dozens of suppliers without ensuring that they had the necessary financial strength. But this tale of deregulation gone wrong is not just a local curiosity.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
