Labor promises cap on electricity prices to help them cope with demand

Labor promises cap on electricity prices to help them cope with demand

The Government has vowed to cap the price of electricity and a move to cap wholesale power prices has been championed by the Liberal Democrats who have promised to increase power prices when the Coalition comes to power.

The Government was forced to reverse its earlier plans to freeze the price of electricity at last year’s rate cap when a review found a move would cause unnecessary cost increases.

The Liberal Democrats have previously advocated a cap on retail electricity prices in the US which the former Labour government resisted, but have been under pressure from the renewable energy sector to push the idea into government.

The Liberal Democrat Energy Minister Tom Brake said the Government had a “very hard decision to make on wholesale and retail” in light of its record on economic and employment development and the “increasing pressures the private se바카라사이트ctor” is facing.

The price cap would allow the Government to make “real economic sense for families and communities”, he said.

“It could help to limit the pressure we’ve had to impose on local communities as a result of decisions by the Coalition government on energy pricing,” he said.

Shadow energy secretary John Healey said: “In a moment where thousands of families have had their power bills jumped at random in the UK, when we’re facing record prices for electricity, the Government must set a price on electricity for a small business, and for the millions of families who are struggling to meet their energy needs.

“The Greens may have supported cap but they also knew they c바카라사이트ouldn’t get what they wanted from the coalition government, so they’ve now decided to try and push a cap.

“The Government can protect and invest in families’ jobs by using our combined forces to ensure our energy sector continues to flourish, with a strong emphasis on clean technologies in the grid and the private sector, and investing in the UK’s renewable energy industry with a cap on power prices.”

The Governmen우리카지노t’s move comes after a major review of how the power market worked suggested consumers should not have to pay more for their electricity as a result of a cap.

The Independent Review Into Electricity Supply concluded that the price of electricity should not be a factor in choosing between two or more generators if that was a problem.

The independent review has set out a 10-year plan to reduce the “misaligned economic value” of electricity from 1 December 2016 and the Coalition’s wholesale price cap would go live in September 2017.

It found that “in particular, price rises of

SHARE THIS POST

  • Facebook
  • Twitter
  • Myspace
  • Google Buzz
  • Reddit
  • Stumnleupon
  • Delicious
  • Digg
  • Technorati

Leave A Response