I believe in capitalism. I believe in the right of companies to profit and of private ownership of enterprises. I believe that a free-market economy delivers efficiency, productivity and innovation; and that customers’ interests are best served by competition and choice.
In 2009, I left my career as a derivatives trader exactly because the energy market presented a great opportunity to create a profitable business while serving the consumer interest. As an entrepreneur, I am completely against over-regulation and unnecessary government intervention.
However, as we approach the 20th anniversary of deregulation of the energy market, it is clear to me that there are long-running, persistent and deep-rooted failings that are stifling innovation and costing customers dearly.
The biggest of these problems affecting the industry is pricing for energy customers on a company’s standard tariff. A failure…