Energy Cost - Cap, Windfall Profit Tax, Something Else, or Let the Market Handle It?

[What Would Jesus Do?]

New UK Prime Minister Truss has announced an annual cap on household energy costs of $2875. Her Labour rival Starmer says there should be a windfall profits tax. I'm not clear whether that's in addition to or instead of the cap.

Does Biden's Executive Order wand allow him to impose a cap? I'm guessing not. And it's even less likely he could impose a windfall profits tax by fiat. But if he could, which of those - or neither or something else - would you like him to do?

Personally I like both ideas.

Then again, the $2875 cap sounds sort of like a joke. Might help better off folks with big homes who insist on perfect temps, but I suspect most less-well off folks are already under that mark.

 

[What Would Jesus Do?]

Googling around, I found this interesting chart

Average monthly utility costs in the US​

Electricity: $117.46
Natural gas: $61.69
Water: $45.44
Sewer: $66.20
Trash: $25–$100
Internet: $59.99
Phone: $114
Streaming services: $48.25

US total: $538.03–$613.03

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