Tom Greatrex MP, Labour’s Shadow Energy and Climate Change Minister, commenting on the Competition and Markets Authority’s statement today on its investigation into the energy market, said:

“This market investigation must get to the bottom of why overcharging, mis-selling, and poor customer service have been allowed to happen for so long. But it shouldn’t paralyse politicians from taking action now, so while this investigation is happening, consumers should be protected from any more unfair price rises by freezing energy bills until 2017.

“To help people with their energy bills and tackle fuel poverty, the next Labour Government will undertake the biggest overhaul of our energy market since privatisation. Our plans will break up the big energy companies, create a tough new regulator with the power to force companies to cut their prices when wholesale costs fall. Until these reforms kick in, we will put a stop to unfair price rises by freezing energy bills until 2017, saving the average household £120.”

Ends

Editors’ notes:

1. The Competition and Markets Authority (CMA) has today published an ‘issues statement’ to set out the scope of its investigation into the energy market: https://www.gov.uk/government/news/energy-market-investigation-cma-publishes-issues-statement