Centrica: Labour energy plan risks 'ruin' for firms

The chairman of Centrica has told the BBC that Labour's plan to freeze energy prices could potentially cause 'economic ruin' for energy firms.

Labour leader Ed Miliband has pledged to freeze gas and electricity bills for every home and business in the UK for 20 months if it wins the 2015 election.

Speaking to the BBC, chairman of Centrica Sir Roger Carr, said: "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."