Energy

Is capping domestic energy prices an equitable way to help the ‘just about managing’, or an electoral gimmick with a whiff of anti-free-market ideology? When it was Ed Miliband’s idea, it was certainly the latter. Now it’s likely to be included in Theresa May’s manifesto, offering a potential £100 saving for millions of homes on ‘standard variable tariffs’, it is defended by the ever-plausible Sir Michael Fallon as a matter of ‘intervening to make markets work better’. And that, after all, is what the Prime Minister said she would do, wherever necessary, in the interests of fairness. In a regulated market, within which the consumer’s ability to choose the most

I am inundated with press releases, emails and phone calls from PRs, all wanting to talk about their clients, the latest piece of ‘ground-breaking’ research or a news story so innovative that not to publish would have disastrous consequences. While some of these communications are useful and thought-provoking, a fair few are, to use the vernacular, total pants. In journalism, we have a number of phrases to describe these releases, from ‘no shit sherlock’ to ‘night follows day’. Decorum prevents me from mentioning the other, swearier, descriptions. It’s safe to say that Scottish Power’s response to Conservative plans to cap energy prices falls into the ‘night follows day’ news category. Wait,

One and a half million households, many of them poor families or pensioners, are not on the correct energy tariff for their consumption says the Daily Mail’s This Is Money. The big six power giants – British Gas, EDF, Eon, Npower, Scottish Power and SSE – are overcharging by a net amount of £440 million per year, the paper says. Frank Field MP, who chairs the Commons Work and Pensions Select Committee, has written to the Prime Minister to draw attention to the issue. He said that ‘as a next move in protecting the vulnerable human underbelly of British society, the Prime Minister should take the first available opportunity to

On Thursday, the Cabinet’s Economic and Industrial Strategy committee met. There were, as I write in The Sun this morning, controversial issues on the agenda: new rules on foreign takeovers of British companies, executive pay and workers on boards. May made clear her views on these questions in the last speech of her leadership campaign. But in this meeting, the members of the committee didn’t simply echo May’s views back at her. One of those present tells me that Philip Hammond made a ‘fearless’ intervention setting out his own, distinct take on these questions. Hammond was then supported by several Cabinet colleagues. It was emphasised that in the context of

There are reasons why Theresa May might harbour doubts about the Hinkley Point nuclear project — chiefly its unproven French technology and the high probability of time and cost overruns — but the fear expressed by her aide Nick Timothy that ‘the Chinese could use their role to build weaknesses into computer systems which will allow them to shut down Britain’s energy production at will’ sounds — even to a Sino-cynic like me — far-fetched. As I wrote here during President Xi Jinping’s visit last year, ‘The least sinister thing about the Chinese is their money. A ten-digit cheque… even from China National Nuclear Corporation… does not carry a ‘backdoor’ listening

Apart from Boris, where have all the posh boys (and girls) gone in Theresa May’s government? The answer, curiously, is the new department for Business, Energy and Industrial Strategy. Secretary of state Greg Clark is impeccably classless, being the product of a Roman Catholic secondary school in Middlesbrough where his father and grandfather were milkmen. But his ministerial team consists of three Old Etonians — Nick Hurd, Jo Johnson and Jesse Norman — plus Margot James (Millfield) and convent girl Baroness Neville-Rolfe. Reassuringly, however, all five have business experience — and more so than Clark himself, who has quietly climbed the greasy pole as an all-purpose policy wonk. Ex-civil-servant Lucy

There’s a lot of negativity around HS2, and I sniff a Brexit connection. You might think Leave campaigners whose aim is to boost British self-belief would promote the idea that we have a talent for grands projets such as the Olympic Park and Crossrail, rather than a propensity to deliver half what’s promised at double the cost. But there’s also an overlap between Tory MPs opposed to the northbound high-speed rail link, usually because it bisects their constituencies, and Tory MPs opposed to the government on the EU referendum. So I suspect that’s where the trouble lies. The spin is that cabinet secretary Sir Jeremy Heywood is reviewing the project

Algy Cluff is the longest-serving oilman in the North Sea. He was one of the first to drill for oil there, in 1972, and at the last government handout of drilling licences, two years ago, there he was again, making a handsome gas discovery. Now 76, he’s also the least likely oilman you can imagine. Tall, rangy, dressed in Savile Row pinstripes; he is no J.R. Ewing. His diffident, patrician voice is so gentle that I have to turn my tape recorder up to transcribe this interview. Cluff’s Who’s Who entry lists membership of 11 clubs. But there is no clubman stuffiness about him. He’s full of wonderful anecdotes, many