Labour increases energy prices by average 10% from October

[dutchman]

Energy Secretary Ed Miliband

The average household energy bill is to increase by 10% from October after Ofgem said it was increasing its price cap as households approach the winter months.

The regulator announced it is hiking its price cap from the current £1,568 for a typical household in England, Scotland and Wales to £1,717, adding around £12 a month to an average bill.

However, it is around £117 cheaper than the cap in October last year, which was set at £1,834.

Ofgem said rising prices in the international energy market, due to heightened political tensions and extreme weather events, was the main driver behind the decision.

Jonathan Brearley, the chief executive of Ofgem, said: “We know that this rise in the price cap is going to be extremely difficult for many households.

Claire Coutinho MP, Shadow Energy Secretary said: “Instead of prioritising cheap energy, the new Labour Government are pursuing Ed Miliband’s reckless net zero targets with no thoughts to the costs.

“And far from their promise of saving families £300 off their energy bills, one of their first acts in office is to remove the Winter Fuel Payment from 10 million pensioners this winter.

“Because they weren’t honest about their plans that means millions of pensioners will have made no plans to deal with higher energy bills this winter.”

Ofgem's figures show what a typical household paying by direct debit can expect to spend on gas and electricity.

Up to a quarter of the UK population fear they may have to turn off their heating and hot water this winter due to the energy bill rise, a survey by Citizens Advice found.

More than 30% of households with children and 39% of low-income individuals are expected to take such drastic action.

Citizens Advice urged the government to "act fast" to prevent millions of households from experiencing further hardship this winter, with those in “desperate need” unable to wait for Labour’s long-term goal of reducing costs through a greater focus on renewables.

Average bills are still much lower than at the height of the energy crisis, which surged after Russia invaded Ukraine in February 2022, further disrupting an already unstable energy market.

The new Government decided to stop winter fuel payments for those who are not in receipt of pension credits or other means-tested benefits.

[dutchman]

Energy Secretary Ed Miliband said Ofgem’s announcement that its energy price cap will increase by 10% was “worrying” for many people.

Who is he trying to kid?

It's HIS government which increased the prices, no one else!

[dutchman]

[rebbonk]

Milliband is rather thick, as many of us can see. However, I'll bet he gets his payback from screwing the rest of us over!

He and his brother cannot be trusted.

[dutchman]

Octopus recommends I move to a new pricing plan which will save me...

Spoiler:

£0.99p a year!

[rebbonk]

Octopus recommends I move to a new pricing plan which will save me...

Spoiler:

£0.99p a year!