Rising energy prices cost the poorest the most, research finds

Today Labour are asking MPs to vote for their motion that will fast-track legislation, which will give Ofgem – the energy regulator – power to reduce energy bills when overall costs fall.

Ahead of this, Caroline Flint, Shadow Energy and Climate Change Secretary, has revealed figures documenting the rise of energy bills since 2010 – on average a household energy bill is £260 higher. These same figures show that the poorest 10% of households’ energy bills have risen nearly twice as fast as others.

Flint will outline how Labour’s proposals will make the energy market fairer for everyone:

“Millions have been ripped off by the big energy firms who never seem to pass on savings to customers, but these figures show that the poorest households are paying the heaviest price for the Tories’ failure to stand up to the energy companies and ensure that the full savings from wholesale cost falls are passed on to all consumers.

“The next Labour government is committed to making big changes in our energy market: freezing energy prices until 2017 so that bills can fall but not rise, resetting the market and bringing in a tough new regulator to stop the rip-offs in the future. But consumers need action on energy bills now. This can begin today with a vote in the House of Commons on fast-track legislation.

“This zombie Government has had no new meaningful legislation for months. But, with this vote, Parliament can require the government to bring forward fast-track legislation. It would mean we could still do some good before Parliament is dissolved before the General Election.”