Energy price caps

SIR – Trying to control a global energy market by capping prices (Letters, July 30) is socialism by another name and is doomed to failure. The same applies to taxing the windfalls that some energy suppliers have been enjoying.

What has hurt consumers and hit their pockets hardest (either at the petrol pump or in their energy bill) has been the rate at which prices have risen. If a government caps anything it should be that rate. A good start would be to say that retail prices for fuel, gas and electricity cannot rise by more than inflation in any 12-month period.

This would mean that consumers would not face another hike in their bills in October, and the energy sector would have to decide how to spread the spoils and burdens of volatile world markets among themselves in order to survive and retain customers.

Government is not good at running businesses that need to be productive and efficient to succeed. This is why capitalism will always trump socialism to produce the greater good for the greatest number of people.

John May

Arkesden, Essex