Households across Britain will benefit from cheaper energy bills this spring, thanks to actions taken by the Labour government – putting money in working people’s pockets in a major step forward in tackling the cost of living.
Ofgem has confirmed the price cap will fall by 7% or £117 from 1 April, driven by the government’s action to remove an average of £150 of costs off bills. For millions of households on variable tariffs governed by the price cap, the drop will be about £10 a month for those using a typical amount of gas and electricity.
This intervention at the Budget – including scrapping the Energy Company Obligation scheme, which was no longer fit for purpose – was only possible due to the choices made to ask the wealthy to pay their fair share, in order to tackle the cost of living for ordinary families.