The Conservatives have today confirmed that energy price caps will form a key pledge in their forthcoming general election manifesto. Verity Ryan has previously written on why price caps are the wrong answer to this consumer problem – the article is republished here in its original form:

A friend of mine recently visited his GP to discuss some troublesome knee problems. He described how his GP prevaricated, skirting around the simple, if awkward, remedy that he needed to lose some weight. Thankfully my friend’s wife also happened to be a doctor, and one less sensitive about his sensitivities: she promptly put him on a cabbage soup diet. Theresa May might be well advised to adopt a similarly direct approach with consumers.

Resurrecting Ed Miliband’s sentiments from the 2015 general election, the Conservatives have pledged to cap energy prices. Greg Clark, the Business Secretary, has accused energy companies of “exploiting” consumers and said that the Government will step in and put a stop their “mistreatment”.