Parallels with the 1970s grow by the day with high levels of inflation, low growth and rapidly rising energy costs caused by an oil price shock. Now another spectre from 50 years ago has been revived: the rationing of power.

Over the winter of 1973-74, in the midst of a global oil crisis, the miners went on strike, restricting supplies of coal, still then the country’s principal power source. To conserve electricity, the government of Edward Heath imposed a three-day week. Only services deemed essential were exempt. Television went off the air at 10.30pm and power cuts meant households were without lighting for hours every day. Although the episode lasted just a few months it became the defining political event of the decade, led to the removal of the Conservative government and resonates to this day as an economic and electoral calamity.

Yet once again rationing is being talked about. The Germans are considering it as part of an attempt to wean themselves off dependence on Russian gas and oil. Labour’s energy spokesman, Jonathan Reynolds, said the Government here should be considering the move before rapidly beating a retreat a few hours later.

Grant Shapps, the Transport Secretary, said rationing was not being contemplated and confirmed the Government would be coming up with plans for new nuclear power plants and more wind farms later this week. However, these are long-term measures. It takes 10 years at least to commission, plan and build a nuclear plant. This crisis is with us now. 

The Government clearly does not want to ration electricity given how much of life today is reliant upon its unbroken supply. Moreover, the political consequences for Boris Johnson would be severe, just as they were for Edward Heath 50 years ago. But will he have any choice?