Rebecca Long-Bailey MP, Labour’s Shadow Business Secretary, has said that the Government’s proposed cap on energy prices is “too little, too late”. The cap comes into force today, 1 January 2019, and OFGEM say that the new cap will save eleven million people an average of £76 a year.
In a statement, Long-Bailey said:
“This cap is too little too late. It is almost two years since the Prime Minister promised to cap energy prices and in the meantime families have been suffering. Labour warned that energy companies would hike up prices whilst the government dithered and delayed and that is exactly what has happened, with an unprecedented number of price rises in 2018.
Labour promised at the last election to introduce an emergency cap to keep average bills below £1,000, insulate 4 million homes to help reduce fuel poverty and repair our broken energy system”.