As a result of the first annual competition test ordered by the Prime Minister, the experts say a full, independent competition inquiry is needed into Britain’s energy market.
We inherited a broken energy market from Labour and we have a long-term plan to fix it. To keep the lights on, we are securing new nuclear and investigating new sources of energy, like shale gas. To keep bills down, we’re cutting the taxes that add to bills by an average £50, simplifying tariffs, and increasing competition in the market.
The government asked the independent experts to look at how to maximise competition to ensure consumers get a better deal. Today they say we need a full, independent Competition and Markets Authority inquiry, as only the CMA has the powers needed to fix this market. We support this decision.
Only our long-term plan will keep bills down, keep the lights on and secure Britain’s energy future. Ed Miliband’s short-term, political quick fixes would mean higher bills and risk the lights going out.