How many hundreds Ed?
How many hundreds Ed?

Ed Miliband is set to promise tomorrow that gas and electricity bills will be cut by up to 10 per cent if Labour wins power in May.

The Labour leader says his party will rush through legislation forcing Ofgem, the energy regulator, to ensure that the global fall in oil price is passed onto households and businesses by next Christmas. The Big Six energy firms have been accused of not sharing the benefits of falling wholesale prices.

Labour claims its proposed price cut would be worth at least £100 a year to a typical family, and a total of £2.5bn to householders and businesses.

The cost of energy to the ‘Big Six’ firms fell by 20 per cent. Your gas bill fell by between 1 and 5 per cent. Your electricity bill probably hasn’t fallen at all.

What better evidence do we need of the chronic overcharging, the broken market and the rip-offs being faced by millions of families and businesses across Britain?

  • Ed Miliband
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