Labour shadow energy secretary Caroline Flint has seized on damning figures from industry regulator Ofgem showing a profiteering rampage by electricity and gas giants.

Wholesale prices paid by energy companies rose by just 1.7 per cent over the past year, but the greedy companies have already announced whopping rises in household bills averaging 9.1 per cent.

Ms Flint said: “Energy companies always blame rising global energy prices for putting up people’s bills, but these figures show that under David Cameron they’ve been increasing their profits on the back of spiralling energy bills.”