Energy secretary Ed Miliband met with members of the 'big six' gas and electricity providers earlier this week.
The talks were ahead of the December 1st deadline when each company will have to show their prices are fair and that they are not over-charging pre-pay meter users.
Representatives from British Gas, E.On, EDF, Npower, Scottish Power and Scottish and Southern Energy all met with the politician.
Speaking about the meeting a Department for Energy and Climate Change spokesman said: "The government and the industry agreed on the need to bring down retail gas and electricity prices.
They added: "The meeting also recognised the significant investment needs of the industry and the extreme volatility we have seen in energy prices in the last 12 months."
Figures from the Alliance Trust suggest gas prices have increased by more than 50 per cent over the last year and electricity bills have risen by more than 30 per cent.
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