New analysis by the House of Commons Library, commissioned by the
Labour Party, has revealed that today’s rise in energy prices is
the largest on record.
As of Friday April 1st, 22 million households will see their
typical energy bill rise by 54 per cent to £1,971 a year. This
would be the highest in real terms since records began. These
soaring increases mean that the cost of heating an average home
will have doubled in 18 months and even steeper increases are
expected when the price cap rises again in October.
Twelve years of failure on renewables, energy efficiency and
energy storage have left the UK uniquely exposed to spiking
fossil fuel prices.
- The Conservative’s effective moratorium on new onshore wind
projects in 2015 effectively destroyed the market. That ban cost
us clean power capacity equivalent to all our Russian gas imports
over the same period of time
- In 2013 the Conservatives cut energy efficiency programmes
with home insulation rates falling by 92%. The UK now has the
least energy efficient housing in Europe.
- The government closed the UK’s largest gas storage facility
in 2017, despite warnings increase the UK’s exposure to volatile
winter gas prices
Instead of supporting families through the crisis, the Chancellor
is hitting them with punishing tax rises. The UK is the only
major advanced economy raising taxes on working people during
this crisis, with the tax burden rising by £1,000 per household
in this financial year.
Labour would levy a one-off windfall tax on the oil and gas
producers making bumper profits from these high prices to save
households up to £600 on their energy bills. Labour’s plan would
all but eliminate the price rise for low-income families,
pensioners and the middle-income families.
, Labour’s Shadow Secretary of State for Climate and
Net Zero, said:
“On the day when energy bills rise by record amounts for millions
of families, it is shameful that and are refusing to support the
British people facing a cost of living crisis.
“It tells you everything you need to know about this Government
that they stand by whilst working people, families, and
pensioners suffer.
“Labour would introduce a package of real support to bring down
bills, funded by a one-off windfall tax on the oil and gas giants
making record profits. Labour is on your side.”
Ends
Notes to editors
- Analysis by the House of Commons library found the 54% rise
in average annual energy bills is the highest on record – at
least since the mid-1970s. The analysis also found that the
average gas and electricity bill will be the highest in real
terms on record, higher than the mid-1970s.
House of Commons Library analysis of BEIS annual domestic
energy bills data,https://www.gov.uk/government/statistical-data-sets/annual-domestic-energy-price-statistics
- Changes to planning laws around onshore wind effectively
destroyed the market and cost us energy capacity equivalent to
Russian gas imports.
https://twitter.com/timbolord/status/1498271453942358022?s=20&t=AWq2ovZrSifKUWMoXAOSqg
https://lordslibrary.parliament.uk/onshore-wind-bill-hl/
- The UK has the least efficient housing stock in Europe.
Changes to energy efficiency programmes in 2013 saw installations
drop by 92% in 2013.
https://committees.parliament.uk/writtenevidence/15634/html/
https://www.carbonbrief.org/analysis-cutting-the-green-crap-has-added-2-5bn-to-uk-energy-bills
- A number of credible independent experts warned that the
closure of the Rough storage facility in 2017 would leave the UK
more exposed to volatile global prices.
-
- Labour analysis found the UK was the only G7 economy raising
taxes on working people during the cost of living crisis.
https://www.independent.co.uk/news/uk/politics/national-insurance-sunak-mcfadden-ifs-b2037508.html
- The rise in the tax burden between 2021-22 and 2022-23 is
equivalent to £1,060 per household.
https://obr.uk/efo/economic-and-fiscal-outlook-march-2022/
