Tom Greatrex MP, Labour’s Shadow Energy Minister, commenting on NPower’s decision to reduce its gas price by 5.1 per cent with effect from 16 February, said:

“This latest price cut shows that Ed Miliband was right to challenge the energy companies to pass on the falls in wholesale costs to consumers. But yet again, with wholesale gas prices down by over 20 per cent, a price cut of just 5.1 per cent means consumers are only seeing a fraction of the savings. This price cut has also been delayed for almost a month meaning consumers won’t see any benefit at all until winter is almost over.

“The next Labour government is committed to making big changes in our energy market: freezing energy prices until 2017 so that bills can fall but not rise, and giving the regulator the power to force energy companies to cut their prices and pass on the full savings from wholesale cost falls to all consumers.”

ENDS