Lib Dems set out plan to halve energy bills in a decade
Liberal Democrat Leader Ed Davey announced a policy to halve energy bills for people across the country.
Lib Dem plan would break the link between gas prices and energy costs, so people can enjoy the benefits of cheap, clean power.
- Doncaster Liberal Democrats backing the party’s new policy and demanded that the Government draw up plans.
In a major speech this week, Liberal Democrat Leader Ed Davey announced the Liberal Democrats would aim to halve energy bills in a decade by breaking the link between gas prices and electricity prices.
The party are also calling for investment in cheap renewable power and home upgrades to be accelerated.
Right now, the cost of electricity is set by the price of gas 97% of the time – even though half of our electricity comes from renewables, which are much cheaper than gas.
Their policy would break the link between gas prices and electricity costs, so people get the benefits of cheap, clean power. The move would slash a typical household’s energy bills by £870 by 2035, down from £1,720 currently.
A key part of the proposal is moving older, expensive renewable projects to cheaper Contracts for Difference
– which were pioneered by Ed Davey when he was Energy Secretary. It is estimated by experts that this move alone could cut bills by about £200 a year for a typical household.
Halve energy bills
Families and pensioners are being clobbered with high energy bills. The Lib Dem plan would break the link between gas prices and energy costs, so people can enjoy the benefits of cheap, clean power. This would halve bills and save families £870 a year on average. Back the Lib Dem plan: