Welsh Liberal Democrats urge UK Government to cancel energy price hike

Welsh Liberal Democrat Leader Jane Dodds has called on the UK Government to protect families from soaring energy bills by cancelling October’s price cap increase.

Halting the 70% increase in the energy price cap, expected to be announced by Ofgem later this month, would save a typical Welsh household an extra £1,683 a year.

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The Liberal Democrats want the government to pay the shortfall to energy suppliers so that they can continue to supply customers at the current rates.

They say the estimated £36 billion cost should be met by expanding the windfall tax on oil and gas company profits and using the UK Government’s higher-than-expected VAT revenues as a result of soaring inflation.

The party is also calling for more targeted support for vulnerable and low-income households.

This would include doubling the Warm Homes Discount to £300 and extending it to all those on Universal Credit and Pension Credit, while investing in insulating fuel poor homes to bring prices down in the long term.

Welsh Liberal Democrat Leader Jane Dodds said:

“Both Conservative Party leadership contenders would be negligent if they really plan on letting the October price cap increase as planned.

“Neither candidate has any idea how to help families and pensioners through what could be the toughest winter in decades.

“Likewise Welsh Conservative MPs and MSs have failed to stand up to their incompetent bosses and left their constituents to suffer the consequences of inaction.

“We need bold and urgent action to help families pay their bills and heat their homes this winter. There is no other choice.

“Energy bills have already gone up by £700 this year, and Conservative Ministers have barely lifted a finger to help. We simply cannot afford more inaction in the face of another even bigger rise in October.

“This is an emergency, and the Government must step in now to save families and pensioners £1,600 by cancelling the planned rise in energy bills this October.”