PM: Energy prices are not falling fast enough

David Cameron has told MPs energy prices are not falling as fast as he would like to reflect the fall in oil prices.

The Prime Minister's comments come as a new survey claims three in five older people will ration their heating this winter amid fears over bills.

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Energy firms face calls to pass on savings

With Britain braced for falling temperatures there are calls for energy companies to pass on savings they are making from the decline in the wholesale cost of fuel.

But despite plummeting commodity prices benefiting energy firms, consumers' bills have hardly moved.

ITV News consumer editor Chris Choi reports.

Cameron: I agree energy bills aren't falling fast enough

The Prime Minister has told the House of Commons that he agrees energy bills in the UK aren't falling fast enough.

Speaking during Prime Ministers' Questions, David Cameron said:

"We've also got in this country now falling energy prices because of the falling oil price, I agree that they're not falling as fast as I would like."


Labour: Government must tackle 'unaffordable' energy bills

Labour has said that more needs to be done to tackle high energy bills that are "unaffordable" for many.

Speaking to ITV News, Shadow Energy Secretary Lisa Nandy said that Government ministers need to ask themselves "Whose side are you on?"

"Are they on the side of energy companies who are failing to pass on saving to their consumers...

Or are they on the side of communities trying to power their own homes...

Are they on the side of consumers who are trying to get a reduction in their energy bills because they are, quite simply, unaffordable."

Ofgem: Energy bills fallen very little for most consumers

A drop in wholesale energy prices hasn't transferred over to domestic bills. Credit: PA

The energy watchdog has said that most consumers on standard variable tariffs have seen "very little" change to their energy bills over the past year.

In a statement to ITV News, Ofgem said:

Falls in wholesale prices have resulted in better deals for many consumers who are on fixed tariffs.

But for the vast majority - the 70%of consumers who remain on standard variable tariffs - energy bills have fallen very little this year.

In a properly functioning market, when costs fall, competition should be driving down prices for all consumers, whether they are on fixed rate or standard variable tariffs.

– Ofgem

Amber Rudd: Energy companies must look after consumers

Energy Secretary Amber Rudd has called upon power companies to "look after their consumers" and put bills down, following a drop in wholesale energy prices.

"I'm saying look after your consumers. Look at the evidence. We need to see these prices come down," Ms Rudd told ITV News.

Energy Secretary urges power companies to put bills down

Energy Secretary Amber Rudd has told ITV News that after plunging energy wholesale prices she is "pressing energy companies to put bills down".

She told ITV News Consumer Editor Chris Choi: "I want to see bills continue to come down we have seen some action but nowhere near enough".


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