An Energy Price Freeze Would Do Damage To Britain, Said Former Head Of BP
By Cynthia Taylor
Lord Browne, who is the chairmen of Cuadrilla, a shale gas company, said that it necessary for energy companies to make profits so they are able to reinvest in infrastructure.
He said that Labour's plans of freezing energy bills could do more 'damage' to Britain.
Labour leader Ed Miliband ha promised that he would freeze electricity and gas prics for all homes and businesses for 20 months in the UK if they won the 2015 elections.
Lord Browne spoke on the BBC Radio Four – World at One, saying that it would not be good should that promise be implemented, because energy companies need to make profits so they can funnel money into infrastructure.
He continued that the important thing for a countries is that energy should be like the air we breath, water that we drink and that people should have access to it, which mean that investment should be continuous so that supply will not be interrupted. Thus energy companies need to be able to invest.
He stressed the important of debate on this issue, and reiterated that freezing prices would do more harm than good.
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