Christine Farnish, who has been a non-executive director at Ofgem since 2016, revealed she resigned from the regulator’s board as she did not believe they had “struck the right balance between the interest of consumers and the interests of suppliers”. The announcement comes just days after Ofgem announced it was changing the methodology of the cap.
The move will enable suppliers to recoup wholesale energy hedging costs sooner.
Ms Farnish claimed such a move would “add several hundred pounds to everyone’s bill in order to support a number of suppliers in the coming months”.
Following Ms Farnish’s resignation, Mr Miliband suggested Sir Keir Starmer’s Labour Party provided a solution compared to a Tory Government which is “asleep at the wheel”.
The Doncaster North MP said: “This is further proof that the Government is asleep at the wheel when it comes to the energy bills crisis.
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“For 12 years the Conservatives have totally failed to regulate the energy market.
“In no other country have 32 energy suppliers gone bust.
“We simply cannot allow the British people to suffer a further increase in bills.
“It is intolerable that the Conservatives continue to offer no solutions to this crisis, and oppose Labour’s plan.
“Labour’s fully-funded plan would fix the problems immediately and for the future.
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“It would mean people not paying a penny more on their energy bills this winter, saving the typical household £1,000.
“Only Labour can give Britain the fresh start it needs.”
Boris Johnson has come under pressure to address the crisis.
However, the outgoing Prime Minister recently insisted “there is more money coming”.
Tory leadership hopefuls Rishi Sunak and Liz Truss have also faced calls to address the issue.