It is a busy day on the economic front, with new inflation figures (which are expected to show an increase) to be released at 9.30am and Ed Davey, the energy secretary, to address the House about further allegations (published in the Guardian this time) that the wholesale price of gas has been fixed by traders. The claims were made by a whistleblower, Seth Freedman, who used to work at ICIS Heren, an agency that reports on gas prices. The Financial Services Authority and the energy regulator, Ofgem, have both swung into action to investigate Freedman’s allegations.
It is only natural that the government would state its response to the House and outline the regulatory authorities’ plans. Yet it is also a sign of how seriously the government takes energy prices as a political issue. This morning’s newspapers have not covered this story in any great depth, partly because there is not much left to say after the Guardian broke the scoop; but the broadcasters, especially the TV broadcasters, have driven the point home in numerous bulletins and special reports this morning.
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