Greg Clark has called on the Government to refer Britain's energy companies to the Competition Commission after reports that fuel bills will not be cut because of the European gas shortage.
He accused the energy companies of trying to have it both ways: "When global gas prices were falling Britain's energy companies said that they couldn't cut prices to customers because they were tied into long term contracts. But now short-term wholesale prices have increased because of the Ukraine crisis. This is being used as an excuse to keep prices for British customers high."
In October, Ed Miliband, the Labour Energy Secretary, gave energy companies an ultimatum, warning that unless they dropped their prices within a month he would take urgent action.
Greg pointed out that three months later, no action has been taken despite the energy companies refusing to cut fuel bills.
"The time has now come for Labour to take the "urgent action" they promised us months ago. They need to show the energy companies that they mean business and refer them to the Competition Commission immediately so we can finally get to the bottom of their failure to pass on price reductions to consumers."