Labour leader Ed Milliband has said that he wants Ofgem to have new powers to force energy bills down when wholesale prices drop.
In an interview with on the Andrew Marr show on the BBC he said he wants to “fast track” regulations to give Ofgem stronger powers.
He said: “We’re going to bring before the House of Commons a vote in Parliament to say the government should bring forward fast-track legislation to ensure that we give the regulator…the power to cut prices.”
The new rule change would be put forward during an Opposition Day in the House of Commons set for Wednesday (14 January), Miliband said.
Energy UK said that the move was unnecessary.
Lawrence Slade, chief executive of Energy UK said said: “No new powers are needed. Energy suppliers are already passing on price cuts to customers. With over 25 suppliers in the market competitive pressure is forcing down prices every week.”
He added: “When people shop around they can easily find deals that are over a hundred pounds cheaper than this time last year and line with with falls in the wholesale energy price part of energy bills.”