Eon dropped its gas price just in time for yet another gladiatorial clash in the House of Commons.
Labour used one of its allotted opposition days, yet again, to debate energy at a time when its price campaign has been given a shot in the arm by falling wholesale energy prices.
But the truth of the matter – consumers getting a lower gas bill as prices have been cut – was merrily manipulated and contorted to fit the argument from either side of the house.
Shadow energy secretary Caroline Flint flung out figures showing wholesale gas prices had fallen by up to 30 per cent over the past year – and said the “paltry” 3.5 per cent cut was evidence “Eon has still pocketed most of the savings”. Labour says this is why new legislation needs to be fast-tracked through the Commons – to give the regulator new powers and make it force the suppliers to pass on falling wholesale prices.
Unsurprisingly, the coalition quashed any chance of that happening. Energy secretary Ed Davey said forcing suppliers to do that would result in yo-yo pricing for consumers, which is something that nobody wants.
Davey crowed: “The exciting news is competition from smaller suppliers is now forcing the big six to act.” Eon’s price cut and latest consumer offer are evidence of this, he said.
It is amazing the impact red, blue or yellow tinted spectacles have on what is something as simple as falling wholesale costs being passed on to consumers.
But to misquote Mark Twain: “Never let the truth get in the way of a good energy debate.”