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A law firm http://keandra.in.net keandra Nobody is going to invest in energy renewal – whether green, nuclear or old-fashioned hydrocarbon – as long as there is the threat of price controls. One could argue that energy prices were, until recently, controlled by Ofgem, the energy regulator, but in setting these controls the regulator was obliged to allow a reasonable rate of return. It is arguable that prices were set too low to incentivise necessary investment in replacement generating capacity – which is why we are now facing a shortfall as ageing nuclear and coal plants are retired – yet Miliband’s proposal doesn’t even pay lip service to the idea of fair rate of return.

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