Iain Wright MP: EDF price hike 'may preempt government price cap'

The Chair of parliament's Business, Energy and Industrial Strategy Committee has told ITV News that he thinks EDF's sharp price hike could be the company's attempt to preempt any price cap by the government.

Iain Wright MP said if that was the case, it would be "disgusting behaviour".

Last month the Prime Minister said in a speech that the energy market was not working as it should and promised action. There has been wide speculation that this may include capping energy prices across the board.

Currently, prices are already capped for pre-payment meters, which are used by 4 million customers.

A price cap across the rest of the market would be a major step, signalling the government's willingness to intervene in markets which it perceives are failing.

Iain Wright MP wants the government to look at whether EDF is indeed preempting a change in policy by the government, and if so, to intervene to stop other companies from following suit.