{"id":79759,"date":"2023-01-22T16:13:04","date_gmt":"2023-01-22T16:13:04","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2023\/01\/22\/energy-price-cap-labour-calls-for-three-month-extension\/"},"modified":"2023-01-22T16:13:04","modified_gmt":"2023-01-22T16:13:04","slug":"energy-price-cap-labour-calls-for-three-month-extension","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2023\/01\/22\/energy-price-cap-labour-calls-for-three-month-extension\/","title":{"rendered":"Energy Price Cap: Labour calls for three month extension"},"content":{"rendered":"
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Labor has urged the government to freeze energy bills until July.<\/b><\/p>\n<\/div>\n

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The government’s energy price guarantee, which caps average household bills for electricity and gas at \u00a32,500 a year, will be increased by \u00a3500 in April.<\/p>\n<\/div>\n

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“Most people just don’t have the money to pay for that,” Labour’s shadow chancellor Rachel Reeves told the BBC.<\/p>\n<\/div>\n

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A three-month extension of the price freeze could be funded by an increased windfall tax, Labor said.<\/p>\n<\/div>\n

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Raising the country’s existing windfall tax from 35% on oil and gas company profits to 78% – the same tax rate as Norway – would raise \u00a34.7 billion, according to Labor research.<\/p>\n<\/div>\n

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The party said backdating the tax to early 2022 and ending the practice of allowing energy companies to circumvent the scheme by investing profits would raise a further \u00a38.7 billion.<\/p>\n<\/div>\n

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  • Three things to do when energy bills soar<\/li>\n
  • Who gets \u00a3900 to help with energy bills?<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
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    The extra money should also be used to freeze fuel taxes at their current rate, Labor said.<\/p>\n<\/div>\n

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    Labor has urged the Government to ensure customers with prepayment meters pay no more than those paying by direct debit.<\/p>\n<\/div>\n

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    There should also be a moratorium on “energy companies moving people from regular payments to prepaid meters,” Ms Reeves said.<\/p>\n<\/div>\n

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    “This effectively cuts some people off from heating when temperatures drop below zero,” she said with Laura Kuenssberg on Sunday.<\/p>\n<\/div>\n

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    Pressed about what would happen after the three months, she said: “We always said we would look at it depending on what happens with oil, gas and electricity prices.<\/p>\n<\/div>\n

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    “If those prices go down, that should be reflected in people’s bills.”<\/p>\n<\/div>\n

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    All households will automatically receive a one-off rebate of \u00a3400 on their fuel bill, spread over six months between October 2022 and March 2023.<\/p>\n<\/div>\n

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    Households in Northern Ireland – which has a separate energy market – will receive a one-off payment of \u00a3600 in January, more than the rest of the UK as heating oil is widely available.<\/p>\n<\/div>\n

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    Eight million low-income households who receive certain benefits or tax credits have received \u00a3650 in two payments. <\/p>\n<\/div>\n

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    The reversal of these payments means lower-income households face a 40% increase in energy bills if the price cap is raised, according to the Resolution Foundation think tank.<\/p>\n<\/div>\n

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    The Department for Enterprise, Energy and Industrial Strategy has been asked for comment.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Labor has urged the government to freeze energy bills until July. The government’s energy price guarantee, which caps average household bills for electricity and gas at \u00a32,500 a year, will be increased by \u00a3500 in April. “Most people just don’t have the money to pay for that,” Labour’s shadow chancellor Rachel Reeves told the BBC. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-79759","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nEnergy Price Cap: Labour calls for three month extension - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2023\/01\/22\/energy-price-cap-labour-calls-for-three-month-extension\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Energy Price Cap: Labour calls for three month extension\" \/>\n<meta property=\"og:description\" content=\"Labor has urged the government to freeze energy bills until July. 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