UK energy markets 'not working in public interest'

Britain's energy market is "not working in the public interest" and regulator Ofgem is "failing consumers", shadow energy secretary said today.

Caroline Flint said:

This report is yet more evidence that Britain's energy market is not working in the public interest and that Ofgem is failing consumers.

Time after time Ofgem has ducked the opportunity to get tough with the big energy giants. That is why Labour have said we would abolish Ofgem and create a tough new watchdog with powers to force energy companies to pass on price cuts and clamp down on abuses by the energy giants.

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Energy profits 'eroding trust'

Trust in the energy market is being undermined by a lack of transparency about profits being made by companies, MPs warned today.