Theresa May panned for ditching energy price cap amid claims Big Six are not passing on £150 fall in prices
Self-styled 'challenger' supplier Bulb claimed wholesale prices had fallen 30 per cent since January
THERESA May was panned for costing families a fortune today amid claims the Big Six are not passing on a £150 fall in energy prices.
Self-styled “challenger” supplier Bulb claimed wholesale prices had fallen 30 per cent since January – and household should be seeing lower bills.
And it called on the PM to live up to her pre-Election promise to introduce a price “cap”.
Bulb co-founder Hayden Wood said: “Whether energy prices go up or down the Big Six always win and families lose.
“This is further evidence that the energy market is broken.
“The Government needs to take action and deliver on its promise to introduce an energy price cap.”
Bulb is backing its words with a further £20 cut to its customers tomorrow.
The attack came as Business Secretary Greg Clark told MPs he had “no powers” to force Ofgem to act on capping pricey standard variable tariffs.
He said: “Ofgem has those powers and I believe it should use them.”
Theresa May dumped her vow to slash £100 off the energy bills of 17 million families through price controls in the Queen’s Speech.
Sources claim the Chancellor and senior urged her to think again to prevent a war with the business community.