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Labour: Ofgem report 'an admission of failure'

Ofgem's report into the grip the "Big Six" gas and electricity providers have on Britain's energy supply is "an admission of failure" on the part of the regulator, according to the Shadow Minister for Energy.

Labour's Caroline Flint said Ofgem's "state of the market" report into the energy industry proved the watchdog was failing to make sure the industry was competitive.

Caroline Flint: Energy firms will still be able to hike bills

Responding to Ed Davey's statement, Labour shadow energy secretary Caroline Flint has attacked the coalition's plans to reform the energy market.

She said that the reform mean that "energy companies will still be allowed to put up people's bills this winter".

"There is not a single measure that will cost the energy companies a single penny," she added.

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Flint: Energy bills are rising by £120 this winter alone

Energy bills are going up by £120 this winter alone, shadow energy secretary Caroline Flint has said after the Government announced that homebuyers are to be handed £1,000 to spend on energy-saving measures.

Shadow Energy Secretary Caroline Flint Credit: PA

Ms Flint added: "[The] Government are dealing with less than half this year's increase, never mind the £300 that bills have gone up by since they got into power.

"It's no surprise with this Government that they're not asking the energy companies to pay for it. David Cameron always stands up for a privileged few. This shows why only a price freeze will do".

Flint: PM 'going round with a begging bowl' on energy

Shadow energy secretary Caroline Flint said David Cameron is "going round with a begging bowl to the energy companies pleading with them to do a freeze" on prices.

Shadow energy secretary Caroline Flint on Daybreak. Credit: ITV/Daybreak

Ms Flint told Daybreak, "The only certainty in this is that the Labour Party led by Ed Miliband is absolutely clear, we won't go with a begging bowl we will legislate to make sure that there's a price freeze".

Labour: Slowing investment not caused by price freeze

Labour's pledge to freeze energy prices would not scare away investment in the energy market, the shadow energy secretary told Daybreak.

Problems with investment had been "going on for the last three to four years" because of the conflicting energy policies of the two parties in the Coalition Government, Caroline Flint said

"We've seen investment in renewable energy halve in the last three years. Of course we want certainty."

Labour: Cameron 'too weak' to stand up to energy firms

Shadow energy secretary Caroline Flint said Ofgem's report shows the Prime Minister "is too weak to stand up to the energy companies and just stands for a privileged few".

The Ofgem report claims the 'Big Six' energy firms had an average profit margin of 20%. Credit: Gareth Fuller/PA Wire

Ms Flint said, “However you look at it, there’s no hiding the fact that on David Cameron’s watch the energy companies have increased their profits on the back of spiralling bills for hard-pressed consumers.

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Energy reforms 'will do nothing to help this winter'

Shadow energy secretary Caroline Flint Credit: PA Wire

Labour's shadow energy secretary Caroline Flint has said that the changes announced in the energy statement will "do nothing to help people with their bills this winter".

She said: "Hard-pressed energy customers struggling with the cost of living need action now, not endless reviews and consultations from an out-of-touch Government that refuses to stand up to the energy companies. "

“What we need now is a price freeze because this is the only way we can deal with the energy companies overcharging," she added.

Labour: Energy firms 'must come clean' on price rises

Shadow energy secretary Caroline Flint said firms "must come clean" about why they have chosen to raise energy prices "when they are already making huge profits".

Shadow energy secretary Caroline Flint. Credit: Yui Mok/PA Wire

Speaking ahead of the appearance of directors from the "Big Six" companies before MPs, Ms Flint said: "The latest revelations about rising profits and the growing gap between wholesale costs and household energy bills highlight why answers are needed.

"Britain's energy market isn't working for ordinary families and businesses."

PM 'standing shoulder to shoulder' with big energy firms

Labour has said David Cameron's comments during Prime Minister's Questions today show he is "standing shoulder to shoulder with the big energy companies."

Shadow energy secretary Caroline Flint said the Prime Minister was "out of touch" and "panicking over his failure to address soaring energy bills".

Shadow energy secretary Caroline Flint. Credit: Yui Mok/PA Wire

Ms Flint said: "People are seeing the cost of heating their home rising by 10% right now and all he offered was yet another review of a market that everyone knows is broken".

"Rather than standing up to the big energy companies he proposes letting them off the hook by scrapping the very same green levies that his own Government introduced."

Labour: Electricity market rigging claims 'deeply worrying'

Caroline Flint MP, Labour’s Shadow Energy and Climate Change Secretary, commenting on allegations of price fixing in the electricity market reported by ITV Business Editor Laura Kuenssberg, said:

These fresh allegations suggest that price fixing could be happening in the electricity market, as well as the gas market, which is deeply worrying and must be investigated as fully and rapidly as possible.

Whatever the outcome of these investigations, it is increasingly clear that there are deep structural problems with the way our energy market works and is regulated.

For too long, these energy companies have been allowed to get away with running their businesses in such a complicated way that it is almost impossible for anyone to know what the true cost of energy is.

These allegations show why it is more important than ever to create a tough new regulator the public can trust and to force the gas and electricity companies to sell the energy they generate into a pool, to open up the market and ensure fairer consumer prices.

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