Centrica warns Labour energy plan risks ‘ruin’ for firms


Britain’s biggest energy firms have rejected Labour leader Ed Miliband’s plan to freeze energy prices.

He pledged to freeze gas and electricity bills for every home and business in the UK for 20 months if his party wins the 2015 election.

The chairman of British Gas owner Centrica told the BBC that Labour’s plan could potentially cause “economic ruin” for energy firms.

Sir Roger Carr said the plan would leave firms in a precarious position.

“When costs are outside your control, but someone is fixing your price and putting a ceiling on it, the risk of course is that it is potentially a recipe for economic ruin for a company.” Sir Roger said.

via BBC News – Centrica warns Labour energy plan risks ‘ruin’ for firms.