ENERGY PRICING

That this House notes that energy companies have now agreed to reduce energy prices by £500 million; further notes that this is only a small proportion of their recent additional profits of £4,000 million and is taking far too long to come through; further notes that all consumer groups, including small businesses, feel the energy companies may have been improperly profiteering and that the energy regulator, Ofgem, has failed to take timely and sufficient action to prevent profiteering; and therefore calls on the Government to review with Ofgem what urgent action can be taken to reduce energy prices for all consumers, especially those in fuel poverty, to standardise the Social Tariff schemes and put them on a statutory basis, to publicise widely the Social Tariff schemes and to do all this immediately.