Theresa May’s promise to cap energy bills may be coming too late as British Gas have announced they are set to raise prices again.
The increase in prices will affect 3.5 million customers with the standard variable tariff increasing by 3.8%.
This will raise the average bill by £44, rising to £1,205 a year.
This is the second price increase this year, with British Gas raising its price by 5.5% in April
The prices will go into effect on the 1st October.
EOn, SSE, Npower, EDF, ScottishPower and Bulb have all increased energy prices, blaming wholesale energy costs for the increases.
Theresa May promised in the run-up to the 2017 General election to cap energy bills for 17 million Brits but the Queen’s speech that followed made no mention of the manifesto commitment. The cap was originally a policy suggested by Ed Milliband for the 2015 General Election.
Shadow Secretary for Business and industrial strategy Rebecca Long Bailey responding to energy price hike stated:
The energy companies have gone way too far in ripping off their customers. If it wasn’t for the Government’s delay implementing their promised energy price cap, customers would have been protected from this rise. Now, the cap will not be coming into force until later this year and energy companies are hiking their tariffs before it does.
Labour have promised to bring energy companies into public ownership to reduce prices. A strategy that has worked at a local scale in Nottingham and Leeds where Labour-run councils have created non-profit public energy companies, like Robin Hood energy, that greatly reduce the price of energy for consumers.
77% of the public believe energy should return to public ownership.
Analysis from Iwan Doherty- Editor in Chief
This sort of mess is why vast numbers of moderate voters will continue to vote Labour. Parliamentary politics will never transform our lives, but small things to help pay bills can make big differences to the lives of millions of struggling families, and this fact seems lost on the Conservative Party.
Corbyn’s promises on housing, energy and water are massively appealing and the Tories failing to implement a Labour-lite policy shows where their priorities lie in Westminster.
Retraction: We originally printed that Theresa May had broken a promise on the energy cap. As alluded to in Rebbeca Long-Bailey’s statement the government is due to bring in the cap so technically she has not broken a promise. We apologise for this error.