Labour criticises Ofgem bonuses - 04/05/2012
The revelation that senior executives of Ofgem received large bonuses last year has been criticised by the Labour party, which said it is inappropriate at a time when families are struggling to get cheap electricity.
Figures obtained by the party showed the energy regulator paid out more than £1 million in incentives over the past two years.
It also observed the average bonus issued by Ofgem was greater than the amount the typical family paid for gas and electricity.
Shadow energy and climate change secretary Caroline Flint stated hard-pressed homeowners will be "astonished" by the figures at a time when domestic energy bills have soared.
She said: "Ofgem has serious questions to answer about why it is paying out so much in bonuses, while everyone else is struggling with soaring energy bills."
Recently, a new report by the Institute of Public Policy Research said the regulator needs to do more to drive competition in the sector.
Make sure you're not paying too much for your energy - compare gas and electricity prices now at energyhelpline.com or call 0800 074 0745
Save up to £300 on your gas & electricity bills at energyhelpline.com
Compare prices from all energy suppliers to find your best deal