Caroline Flint MP, Labour’s Shadow Energy and Climate Change Secretary, commenting on EDF’s decision to cut its gas price by 1.3 per cent with effect from 11 February, said:

“Given wholesale gas prices have fallen by at least 20 per cent, a measly price cut of just 1.3 per cent is yet more evidence of why we need a tough new regulator with the power to ensure that energy companies pass on the full savings from falls in wholesale costs to all consumers, as Labour has proposed.

“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, reforming the energy market and creating a tough new regulator with the teeth to protect consumers.”