Caroline Flint MP, Labour’s Shadow Energy and Climate Change Secretary, responding to reports tonight on energy prices and possible new inquiry, said:

“The Tories have had five years to deal with the problem of energy companies not passing on reductions in wholesale costs and have done absolutely nothing about it. Labour has consistently said that the regulator should have the power to force energy companies to cut their prices when wholesale costs fall.

“We need action, not another inquiry. If this Government won’t put an end to rip-off energy bills and give the regulator the power to cut prices, then the next Labour Government will.”