"Events dear boy! events" is the famous phrase utterd by Harold Macmillan when a journalist asked him why he was in such political turmoil. Some might argue that the floods and general malaise in Summer that the utility industries are under some pressure to get their houses in order. Certainly Severn Trent is struggling with trying to get water to people.

A review has been set up to look at the siting of new electricity stations as well as the existing ones. Every Prime Minsters nightmare is that the lights go out. Security of supply is key to maintaining the image that you are in control of how the country is run. But in reality, if force majeure events are likely to happen then we can easily say that it is also unlikely Prime Minsters will be hauled over the coals.

The utility industry must brace itself for spending more money on locating power plant and protecting power plant from flooding. These costs will be passed on to the end user.