Liberal Democrats in Business

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OFGEM NAÏVE TO BELIEVE COMPETITION ALONE WOULD DELIVER ELECTRICITY BILL CUTS

12.00.00am BST (GMT +0100) Fri 9th May 2003

Commenting on the National Audit Office report on Electricity prices, Vince Cable MP, Liberal Democrat Shadow DTI Secretary, said: "Radical wholesale cuts in electricity prices are welcome and have benefited industry, but ordinary households are left out in the cold."

"Ofgem has been naive in believing that competition alone would deliver price cuts to customers. Like most MPs, I have heard horror stories from my constituents who have been ripped off when trying to change supplier.

"Competition must be supplemented by enforced cuts in everyday bills to deliver the cheapest possible electricity to every home."

Contact: Greg Simpson - 020 7227 1225

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