{"id":10520,"date":"2017-10-12T15:49:47","date_gmt":"2017-10-12T13:49:47","guid":{"rendered":"https:\/\/theworldwidejournal.com\/2017\/10\/12\/energy-price-cap-is-riddled-with-breezy-assertions-and-lazy-assumptions-nils-pratley\/"},"modified":"2017-10-12T15:49:47","modified_gmt":"2017-10-12T13:49:47","slug":"energy-price-cap-is-riddled-with-breezy-assertions-and-lazy-assumptions-nils-pratley","status":"publish","type":"post","link":"https:\/\/theworldwidejournal.com\/?p=10520","title":{"rendered":"Energy price cap is riddled with breezy assertions and lazy assumptions | Nils Pratley"},"content":{"rendered":"<p>Theresa May\u2019s bill is a populist move based on suspect notions \u2013 but there is little doubt suppliers brought it on themselvesContain your excitement: a full price cap on energy bills is coming, probably not in time for this winter but for Christmas next year. Most people\u2019s enthusiasm, one suspects, will be determined by whether they\u2019re on a standard variable tariff or have switched to a fixed cut-price deal. The former group should enjoy a saving, although maybe not the full \u00a3100 per household per year advertised by Theresa May. Active switchers, on the other hand, may find they will pay more when their current deals expire. What should be easier to agree on, however, is that this policy is riddled with breezy assertions and lazy assumptions.The first problem is business secretary Greg Clark\u2019s dodgy use of the statistic from the Competition and Markets Authority that consumers were paying \u00a31.4bn more than they would in a truly competitive market. Yes, the figure was in last year\u2019s report. But what Clark fails to mention is that the CMA concluded that a temporary price cap would be the wrong remedy. Four out of five members of its panel thought it would likely produce \u201cworse outcomes for customers in the long run\u201d. Continue reading&#8230;<br \/>\nVia: <a href=\"https:\/\/www.theguardian.com\/business\/nils-pratley-on-finance\/2017\/oct\/12\/energy-price-cap-theresa-may-bill\" target=\"_blank\">Energy price cap is riddled with breezy assertions and lazy assumptions | Nils Pratley<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Theresa May\u2019s bill is a populist move based on suspect notions \u2013 but there is little doubt suppliers brought it on themselvesContain your excitement: a full price cap on energy bills is coming, probably not in time for this winter but for Christmas next year. Most people\u2019s enthusiasm, one suspects, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-10520","post","type-post","status-publish","format-standard","hentry","category-english"],"_links":{"self":[{"href":"https:\/\/theworldwidejournal.com\/index.php?rest_route=\/wp\/v2\/posts\/10520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theworldwidejournal.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theworldwidejournal.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theworldwidejournal.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/theworldwidejournal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10520"}],"version-history":[{"count":0,"href":"https:\/\/theworldwidejournal.com\/index.php?rest_route=\/wp\/v2\/posts\/10520\/revisions"}],"wp:attachment":[{"href":"https:\/\/theworldwidejournal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theworldwidejournal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theworldwidejournal.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}