No easy answers to protect the UK from soaring energy costs

There is no plausible way to sugarcoat the impact of an 80 per cent rise in energy bills for UK economic prospects or household finances.

With the energy price cap, which affects 85 per cent of households, rising from an annual average of £1,971 to £3,549 for the October to December period, and further large increases expected in January, the pressure on the new prime minister for comprehensive action is overwhelming.

But economists…