WSJ: Britain's Energy-Policy Time Warp

Last week the British government published draft legislation for its overhaul of the electricity market. The plan's aim, according to Ed Davey, the energy and climate change secretary, is to lock in predictability and stability. If implemented, Prime Minister David Cameron's proposals are guaranteed to do just the opposite. At some point, the oxymoron of a "planned energy market" will have to be dismantled because of its inherent contradictions.

The proposals are based on rigging the price of carbon dioxide via a new carbon tax, rising to £70 per ton of CO2 from £15.70 in 2013, on top of Britain's  MORE (Registration required).