Yeah, you're right that prices are also affected by regulation. I should've been more precise - the price the suppliers want to charge is only set by supply an

Yeah, you're right that prices are also affected by regulation. I should've been more precise - the price the suppliers want to charge is only set by supply and demand. They'll charge whatever the market can bear. If the cap is lower than that, they'll charge the cap. That's an inescapable feature of markets. If Ofgem caps the prices for producers, the reaction of the producers will obviously be to limit production. They'd prefer to produce when profits are high. The next step would be for the government to mandate production, and this is another stopgap measure on the way to admitting energy markets don't work when one of the largest global energy producers are actively fighting an economic war against us. My point is just that we shouldn't be at all surprised when markets don't work when one of the largest actors is behaving in an economically irrational way. We shouldn't be surprised when countries will abolish any kind of energy market and set supply and demand centrally by controlling producers and rationing.