Light Touch

Britain's energy profiteers are being regulated just sternly enough to permit double-digit profits while energy bills are hiked up, according to the regulator's report. In accordance with modern fashion, the chief executive of the Energy Networks Association decided not to recognise the figures, proclaiming that investment was in the stratosphere, costs heading for the earth's core and that nothing had ever been more reliable, as witness the recent blackouts in the north of England. They may have left a million homes, a hospital and an airport with no electricity, but they were at least confined to the north of England. Nevertheless, it appears with hindsight that even consumers in a captive market may sometimes be charged more than they need to be, although it remains as yet unclear what degree of financial compensation will be awarded to the victims.