Response to Ofgem analysis on wholesale energy costs and retail prices

Caroline Flint MP, Labour’s Shadow Energy and Climate Change Secretary, commenting on analysis by Ofgem showing that wholesale costs have only increased by 1.7% in the last year, while retail prices have increased by an average of 9.1% this autumn, said:

"Energy companies always blame rising global energy prices for putting up people’s bills, but these figures show that under David Cameron they’ve been increasing their profits on the back of spiralling energy bills for hard-pressed households.

"If energy companies won’t treat their customers fairly, then people deserve tough action from the Government. But David Cameron shows how out of touch he is, refusing to act. That’s why Labour would freeze energy bills for 20 months and create a tough new watchdog with the power to force energy companies to cut their prices when the cost of energy falls."

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