There’s a certain lack of understanding of the basic system behind this demand that the regulator should be making sure fly by night companies don’t turn up in the energy market. For the very point of this having a market thing is so that those who can’t hack it go bust. That is, we’ve already got the sorting mechanism to get rid of the deluded, the charlatans and the just plain wrongheaded – the market bankrupting them.…
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Shoddy Firms Going Bust – Britain’s Gloriously Competitive Electricity Market
There seems to be a little misunderstanding of how markets work here – which is a pity as Ofgem is supposed to be the organisation that regulates Britain’s electricity market. The admission is that this market appears now to be finally working – this being thought of as a mistake which must be rectified. The problem identified being that at the bottom end of this market there is a plethora of shoddy fly by nights who are going bust in droves.…
See MoreEconomy Energy Goes Bust And Pernicious Drivel About The Electricity Market
Of course it saddens when a company goes bust – dreams, livelihoods and capital all up in smoke, as here at Economy Energy as it closes down for being, well, actually, for being a bit terrible really. This also actually being the point of having a market economy, so that those who are a bit terrible do indeed get chucked out and go bust. That’s the entire mechanism by which we find out who isn’t completely terrible and thus climb the difficult ladder to the current state of glorious wealth for us all.…
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