Wednesday 11 September 2019 / 6:36 AM Energy / Rebecca Long Bailey

Energy customers are overpaying by £2.2 billion annually

Rebecca Long Bailey MP, Labour’s Shadow Business and Energy Secretary, responding to a report that energy customers are overpaying by £2.2 billion annually, said:

 

“This is further proof of what Labour has long been arguing: the privatised energy market, left to its own devices, will systematically rip-off consumers who aren’t constantly hunting around for the best deal.

“The Tories had to be dragged kicking and screaming into introducing the energy price cap, and it is reported that senior industry figures are now lobbying Boris Johnson to scrap the cap entirely. It’s clear that this government can’t be trusted to protect consumers and keep bills down.

“The next Labour government will end the privatisation racket, taking the energy networks into public ownership and fundamentally reforming the supply market to bring bills down for British households.”

Ends

Notes from Editors:

  • A report released today (Wednesday 11th September) by renewable energy supplier Bulb said the Big Six energy suppliers have been bunching their tariffs around the energy price cap when it is updated.
  • It said there are nearly 10 million Big Six customers on standard variable tariffs (SVTs). This includes customers of British Gas, SSE, E.ON, EDF, Npower and Scottish Power. Bulb says this means that collectively, these households could be losing out on £2.2 billion in annual savings.