VIDEO: Watchdog warning over energy bills

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Interview with Brenda Kelly, Financial Markets & Technical Analysis at IG.

She says companies may hike their prices now, in fear of Labour’s 20 month price freeze pledge and that these prices could be good for consumers as it may drive a price war.

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Consumers face another 17 years of above-inflation increases in energy and water bills as households are forced to stump up the cost of renewing Britain’s ageing infrastructure, the Whitehall spending watchdog has warned.

The National Audit Office (NAO) said the Government had little idea of the impact the continued price hikes would have on households or whether they would they would even be affordable, particularly for those on the lowest incomes.

Its findings will intensify the political debate raging over energy bills, with the Government under pressure to act after Labour promised a 20-month price freeze if they came to office.