You said there should be caps and I replied that there were. Of course they can be lowered but it was noted in the contract what the prices were. Nobody was calling this choice evil when they were paying below retail for their power because of their contract. It only becomes evil when the contract that they signed doesn't go in their favor. The only thing I am advocating for is free choice.
On one side of this story we have a company of professionals united in the purpose of making a profitable business. On the other side, we have an average Joe who just rented a house and needs to get his electricity hooked up. For me, it is obvious that one of these groups is making a much more deliberate and informed choice about the energy supply contract than is the other. This is not some sort of idealized equal negotiation with parity of information and expertise.
Joe's life isn't about understanding his electricity bill. He just chose the plan with the cheapest prices. Hell, he even chose the one that lets him save money by confining his energy use to off-peak hours. He probably expected the other party to act in good faith, more's the pity.
This whole thing was unpredictable, but it is clear that the energy suppliers are taking advantage of the situation. For me, it is the same as if I sent you a quotation for goods and you just copy-pasted the price into your payment app. You made the payment, received the goods, but later we both discover there was an extra zero in the price. Did we agree to the price? Yes. Am I an opportunist asshole if I don't give you back your money? Yes. Wouldn't it be great if you had some way to prevent such bad behavior?
I don't get why people like to pretend that your average consumer has the time and energy to be perfectly informed on every decision they make. They clearly don't. The energy company has a whole team devoted to making a contract that is as profitable for them as possible and avoiding ruinous mistakes. What I suggest is that the government act as the advisor for consumers, also preventing them from making ruinous mistakes. Like Dafluff said, the only reason to advocate for poor choices for consumers is because you believe you will profit from them.
I have always thought there was a noticable amount of arrogance to "let the weak fend for themselves" arguments. Arrogance mixed with callousness and greed.