Labour Pledge Energy Price Cap and Break-Up of Big Six
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A Labour government would cap British gas and electricity prices until the start of 2017 if it wins the 2015 election, party leader Ed Miliband said.
The limit would allow time to set up a new energy regulator with powers to cut prices, Miliband said today at Labour’s annual conference in Brighton, southern England, as he sought to position his party as the champion of people struggling with the increased cost of living. The proposal would cost energy companies 4.5 billion pounds ($7.2 billion), the Labour leader’s office said.