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”
All recommendations within this article are informed by expert editorial opinion. If you click on a link in this story we may earn affiliate revenue.
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.
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.
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.
We pay for your stories! Do you have a story for The Sun Online Money team? Email us at money@the-sun.co.uk or call 0207 78 24516