Most readers will be aware that our energy prices increased by 50 per cent a few days ago and that it’s going to drive many of us into fuel poverty - do I eat or stay warm? will be a question lots of families will have to address in 2022. And yet the cost of producing most energy apart from gas - energy and renewables - has not increased.

The problem is that energy is priced at the cost of the most expensive unit sold and as a result Russia can increase gas prices and create an economic crisis in the UK although one with bumper profits for the energy companies. Labour has proposed scrapping VAT from everyone’s energy bills for one year and give extra help to families and pensioners who need it most. This would be paid for by a one-off windfall tax on booming oil and gas profits. This will help but it seems to me that we are witnessing a market which has failed and and which is run for the benefit of the suppliers and not the consumer.

Either we make long term changes and properly regulate this market or we should nationalise it.

Philip Parry

SW Herts Labour Party