Labour is urging Rishi Sunak to bin April’s energy price cap rise as new figures show the UK has the world’s highest electric bills.
The increase will see the typical dual user paying £500 more a year than the £2,500 they do now even though wholesale prices are falling.
Research by boiler company BOXT shows Brits pay 19.31p/kWh for their electricity with Ireland next on 18.99p followed by Spain on 18.51p. In 2016 the UK was in fourth place.
Shadow Chancellor Rachel Reeves said: “On a week when temperatures fell below zero, many families and pensioners will be feeling the pressure acutely.
“At the same time, energy companies continue to enjoy record profits. That cannot be right.”
Shell will now pay tax in Britain for the first time since 2017 after making record profits between July to September last year of £7.7billion.
However Britain is only the 19th most expensive country for gas and over the last five years electricity has risen by 35% compared to Norway’s 91%.
Yet Labour research shows that despite that overall energy bills will be £10,000 for the five years up to 2025 compared to £6,000 in the five years before.
And households who pay for bills through prepayment meters spend £79 more than those on direct debit.
Shadow Energy Secretary Ed Miliband said: “Britain’s energy bills are too high and our energy system too weak after 13 years of Conservative failure.”
The party says its plans to make the UK a clean energy superpower by 2030 with its state owned GB Energy company will save households £1,400 a year.
The Government says the pain will be eased with cost-of-living payments of £900 for those on means tested benefits, £300 to pensioners and £150 to those on disability benefits.
