Stephen Crabb has welcomed the latest progress towards fairer energy prices as the Domestic Gas and Electricity Bill (Energy Cap) completed its passage through the House of Commons this week.
The Bill fulfils a campaign by MPs to protect consumers from unfair energy bills and reform the broken energy market.
Stephen has been part of the cross-party campaign to bring forward a cap on high gas and electricity prices. This Bill will place an absolute cap on default standard variable energy tariffs by the end of the year. These tariffs are often far more expensive than cheaper deals offered by the same companies. Around 11 million households on these rip off tariffs in the UK can feel the benefits this winter.
“I am pleased that following our campaign the Government has legislated for an energy price cap. It is estimated that over 23,000 consumers in Pembrokeshire overpay about £275 for their energy bills each year and this reform will bring a welcome relief to many of them in the winter. The price cap sends a clear message to the big energy companies to get their house in order and stop exploiting loyal customers through default tariffs.”
The Bill passes to the House of Lords and is expected to become law this summer