Opinion piece by Professor Dieter Helm, Fellow of New College - Energy Policy should let the market pick the winners

Opinion piece by Professor Dieter Helm, Fellow of New College and professor of energy policy at Oxford University, criticising the energy secretary and his two predecessors for dismantling the market-driven system of energy supply, replacing it ‘with something that looks more like the old Central Electricity Generating Board.’ He argues that the government now decides how much electricity the country needs and how it should be generated – in short, picking winners. He claims that several of the chosen alternative energy technologies already look like losers while oil and gas prices have tumbled. He says: ‘The lesson is painfully obvious: the energy mix should be the outcome of market processes, not the objective of government policy.’

Financial Times, 21/20/2014, p.15, 

http://www.ft.com/cms/s/0/8aa1e17a-583e-11e4-a31b-00144feab7de.html#axzz3GlYMp3lE

Dieter Helm