Just as he has done in the financial services industry, Lord Turner is challenging free-market orthodoxy as it applies to energy policy.
Britain has one of the most liberalised energy markets in the world, with no controls on wholesale or retail prices, and a large number of competing suppliers. Lord Turner's climate change committee argues that if the government wants to live up to its commitments on cutting greenhouse gas emissions, that market structure no longer looks fit for purpose. In particular, nuclear power and "clean coal" power stations that capture their carbon dioxide emissions will need more support.
