The latest company to cut gas prices is Scottish Power, which is reducing its tariff by 4.8 per cent from February 20 – one month from today.
Labour’s shadow energy secretary, Caroline Flint, seems to have found herself with little more to say about it, after previous disappointing performances by E.On and British Gas.
“Given wholesale gas prices have fallen by at least 20 per cent, a price cut of just 4.8 per cent means consumers are only seeing a fraction of the savings,” she said. “This price cut has also been delayed for a month, meaning consumers won’t see any benefit at all until winter is almost over.”
It’s a step in the right direction but the thinking behind it is transparent – the bosses of these firms are hoping people will think they don’t need a government that will freeze prices and introduce robust regulation, as Labour intends.
If the public is duped into believing this – and supporting another right-wing government – then we can all kiss our price cuts goodbye and expect more rampant profiteering.
We already know the Tories and Liberal Democrats support the big company bosses – not their voters.