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EU policy makers have grossly underestimated the difficulties and risks of their drive to decarbonise the power sector. They have failed to take into account the huge changes in the economic, commodity and financial environments and adjust policy accordingly. A crisis in UK energy policy looks increasingly likely and therefore utility companies and investors would be prudent in limiting their future exposure. –Peter Atherton and Guillaume Redgwell, Liberum Capital, 30 April 2013
When the crisis hits there will be three possible casualties, the government of the day, the consumer, and the investors who have funded the government’s radical energy policy. Whilst no doubt there will be plenty of pain to go around, in our view investors should be under no illusions that the government of the day will seek to protect itself and the consumer (who are also the electorate) by heaping most of the financial pain on to investors. –Peter Atherton and Guillaume Redgwell, Liberum Capital, 30 April 2013
2013-05-02 04:31:01