How Ed Miliband plans to save you £100 after the election indy100 indy100 Indy100 logoNewsletter sign upRegister/Sign inTop 100NewsViralPoliticsCelebritiesScience & TechVideoWishlistWishlistBooksFashion & BeautyFood & DrinkHome & GardenKidsSports & FitnessTechTravel & OutdoorsMoreScience & techVideoConversationsSportIdentitiesLifestyleShowbizTVSearchxNews

How Ed Miliband plans to save you £100 after the election

Andrew GriceMar 13, 2015 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 The Conservatives have accused Labour's plans of being "chaotic", however, and said customers would end up paying higher bills. In 2013, Mr Miliband announced that an incoming Labour government would freeze energy prices for 20 months. It was one of his most popular policies, with opinion polls suggesting it enjoyed the support of 80 per cent of the public. However, the pledge was overtaken when the oil price more than halved. Labour rebranded its price freeze as a “cap”, saying that bills could go down but not up. But the Conservatives claimed Mr Miliband’s promise of a freeze was “in chaos”. This is now the sixth version of a chaotic Labour energy policy that would have put up families’ bills by £100 and could do the same again. Its record at setting prices has been a disaster. And only Ed Miliband could propose giving a new power to a regulator he plans to scrap. This incompetence is exactly why Ed Miliband isn’t up to the job. Hardworking taxpayers would pay the price with higher bills.Matthew Hancock, Energy Minister Keep reading...Show less

US actors Reynolds and McElhenney to be honoured by people of Wales

How will the next prime minister and Tory leader be chosen

Ellis-Bextor to get the party started at new show for Edinburgh s Hogmanay

Please log in or register to upvote this article

Top 100

Man endures ' 29 hour flight' with screaming kids for the entire trip

flightplanechildflightOct 12, 2022

How likely is it that Boris Johnson could be prime minister again

Boris Johnsonboris johnsontory leadership contesttory leadership racetory leaderTory leadershiptory leadershipConservativesconservative partyConservative Partyconservative leadership raceconservativesBoris JohnsonOct 21, 2022

The Rocky career of Dwayne Johnson

Dwayne Johnsonthe rockblack adamwweDwayne Johnson22h

Lorraine Kelly hits out at Madonna' s ' boiled egg' face

madonnamadonnalorraine kellygmbshowbizplastic surgeryOct 11, 2022

Elon Musk is actually selling a ' Burnt Hair' fragrance

elon muskthe boring companyperfumeelon muskburnt hairOct 12, 2022

Jon Stewart slams Arkansas attorney general for her ' anti-trans law'

lgbt+transgenderlgbt+jon stewartapple tvarkansasus newsnewsOct 11, 2022

Just Stop Oil protester praised for ' great' explanation of soup stunt

just stop oilvan goghprotestclimate activistsjust stop oilOct 19, 2022

Couple spark debate for ' scandalous' wedding cake topper

wedding caketiktokwedding cakeviralOct 12, 2022

Love Island star shows extent of how far influencers edit photos

Love IslandOct 11, 2022

Steven Seagal describes Putin as one of ' greatest world leaders'

steven seagalOct 10, 2022

Lizzo wears empowering shirt after being fat-shamed by Kanye West

lizzoOct 10, 2022

A lettuce just outlasted Liz Truss' stint as prime minister

Liz TrussOct 20, 2022

Newsnight guest says ' you can' t treat mortgages like prime ministers'