Tom Greatrex MP, Labour’s Shadow Energy Minister, commenting on Ofgem’s response to allegations of overcharging in the electricity market, said:

“It is just not good enough for Ofgem to say it doesn’t know whether consumers are being overcharged - it’s the regulator’s job to know. There is now clear evidence which suggests that all the big energy companies have been buying electricity at above the market price.

"Today’s revelations show why we need a tough new regulator and reforms to the energy market to stop these firms from overcharging. The only way to get proper transparency in the energy market is to stop energy companies from selling power to themselves and make them do all their trades in a proper open market, as Labour has proposed. And until our reforms kick in, a Labour Government will put a stop to unfair price rises by freezing energy bills until 2017.”