TThe signs for the coming winter are good. National Grid has had to deal with three or four house explosions caused by desperate people tampering with their gas meters. If that happens in a heatwave, when annual bills are capped at £1,971, imagine what we’ll see when they rise to £3,582 in October and £4,266 in January – as predicted by research firm Cornwall Insight.
Futures markets show that wholesale prices are likely to remain elevated next year and into 2024 as Russia’s war against Ukraine comes to an end. Gordon Brown, in an article for The Guardian, rightly compared the scale of the crisis to the 2008 financial crash.
However, he was wrong to call for the temporary nationalization of suppliers as a last resort. In the interim
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