Why panic if you’re in the UK? They’re less exposed to Russian gas than continental Europe.
https://edition.cnn.com/2022/08/19/energy/energy-prices-uk-e...
As wholesale costs ballooned last year, 31 smaller UK energy companies — who traditionally offered competitive prices — went bust, forcing millions of customers onto the books of bigger suppliers, and to pay higher bills.
The way the British government designed the energy market made this more likely, Henning Gloystein, director of energy, climate and resources at Eurasia Group, told CNN Business.
I'm not sure of the state of the market, and I've never tried changing my supplier, but I do notice the electricity supply rate has more than doubled year-over-year.
My understanding is that most of the power here comes from Canadian hydro, so that seems to tell you something about the usual explanations for price changes.
I notice public figures saying (paraphrasing) "why shouldn't the current bout of inflation be like the 70s". And I think "because they were trying to maintain the gold standard for way too long and that's what got it going?"
Spending vast amounts on "stabilizing energy prices" seems like essentially the same sort of mistake.
I wonder why other countries falter in emulating the Federal Reserve, which seems to have learned something from history despite all its critics.