Chorlton MP John Leech has written to the Prime Minister calling for an urgent inquiry into the UK energy markets. In the letter John Leech MP asks David Cameron to investigate how energy companies came to the decision to raise customer bills by an average of 9.1%. He has also written to Climate Change Secretary Ed Davey asking for legislation to separate wholesale from retail markets.
In the past week energy bosses have faced questioning from MP’s, and blamed price rises on increasing wholesale costs and green levies. However John argues that energy firms have too much influence over both wholesale and commercial markets.
John said,
“In 1997 there were 14 big energy companies. Now there are just 6. Why did Labour in power allow such a small number of firms came to dominate 98% of the market, allowing them to charge extortionate prices.”
He added
“According to Ofgem, wholesale costs went up by 1.7% this year whilst bills are going up by almost 10%. Labour’s promise of an artificial price freeze seems attractive but looks like it might be helping force prices up now. I want a realistic and sustainable solution to this problem.”
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