Greedy energy firms are ‘pushing up prices ahead of a government cap’, MP warns
Labour’s Iain Wright claimed that he is almost certain that EDF Energy’s £78 price hike last week was “pre-emptive”
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MILLIONS of Brits have seen energy bills soar because of DELAYS to a Government crackdown – a powerful Commons committee chair declared yesterday.
Labour’s Iain Wright carpeted Business Secretary Greg Clark yesterday and said the Big Six were racing to put up bills because they feared a regulatory cap.
He said it was almost certain EDF Energy’s £78 price hike last week was “pre-emptive”. And he accused the Cabinet Minister of issuing “warm words” but failing to take action.
But Mr Clark insisted that the long-mooted crackdown was being “finalised” and would be “very decisive”.
And he once more ripped into the Big Six for “milking” loyal customers on rip-off standard gas and electricity tariffs.
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Speaking to the Business Select Committee he said: “We will publish our response very shortly and that - you will see when it is published - will take very decisive action to address what even the regulator has accused of being difficult to justify.”
Theresa May last month signalled a radical crackdown was coming by saying the energy market was “not working as it should”.
The Sun in February revealed Ministers were considering taking the “nuclear option” of introducing a regulated energy tariff to call time on a £2 billion rip-off.
Greg Clark first said the Government had a “duty to act” in October last year as he slammed the Big Six for over-charging loyal customers who had failed to switch to a cheaper rival.
EDF last week announced a second price hike of the year for 1.5 million customers – putting up dual fuel bills by 7.2 per cent or £78 a year.
Ofgem- the industry regulator – said the rise was “difficult to justify”.
At the start of March, German-owned E.ON was slammed for a “monstrous” 13.8 per cent rise in electricity prices affecting 2.5 million customers.
HOW TO CUT YOUR ENERGY BILL NOW
MILLIONS of households across the UK have never switched and are stuck on the most expensive tariffs.
If in doubt, call your provider and ask them to move you to their cheapest tariff.
Better still, use a comparison website like or Energyhelpline.com to find the very best deal for you.
The cheapest tariffs are usually found online and are fixed deals - meaning you guarantee how much you'll pay for a set amount of time, usually 12 months.
Switching to a cheaper supplier could cut your bill by up to £300 a year.
The amount you pay varies depending on where you live and how much energy you use.
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