Energy UK comments on Labour's pledge
Following the announcement by Shadow Chancellor, John McDonnell that a Labour government will legislate to limit price hikes by energy firms, Energy UK has issued a statement.
Lawrence Slade, chief executive of Energy UK said:
"With more people than ever switching last year, and with over 40 suppliers active in the market, it is in the industry’s interest to keep prices competitive to attract and retain customers.
"There are many components which make up an average energy bill - the majority of which are outside of suppliers’ control and in some cases these are rising, putting pressure on bills.
"The energy industry has only recently undergone an extensive two year investigation by the Competition and Markets Authority. Their recommendations must be allowed to be introduced. The industry is already taking action and is committed to ensuring the market works for consumers and helping households manage their energy consumption and spend."