Energy bills in the UK are set to decrease again starting from July, as announced by the British sector regulator (Ofgem) on Friday.
This news was welcomed by the Conservative government amidst ongoing election campaigning, while the Labour opposition highlights persistently high prices.
Following a significant drop in April, the capped gas and electricity bill for an average household will “decrease by 7%” on July 1st, resulting in “a reduction of £122 (€143) over the course of a year,” Ofgem stated in a press release.
Energy Minister Claire Coutinho immediately praised the news on Sky News, stating that gas prices in the UK “are now on average lower than in other European countries,” and that the Conservatives will continue to lower bills.
Although it will decrease to £1,568 (€1,841) per year on average, and is already lower than in the months following Russia’s invasion of Ukraine in February 2022, the annual bill remains over £400 higher than in 2021.
The surge in energy prices in recent years has led to a general increase in prices, significantly reducing the purchasing power of Britons and remaining a major challenge for the Conservative government ahead of the July 4th general elections.
“Families are paying the price for 14 years of Conservative energy failure,” Labour leader Keir Starmer denounced, according to excerpts from a speech he is set to deliver on Friday, as reported by the British press. “Labour will prevent households from paying too much for their energy,” he assured.
Prime Minister Rishi Sunak and Labour leader launched into the election battle on Thursday, where Labour is the clear favorite after 14 years of Conservative rule.
Under the Conservatives, the UK has committed to achieving carbon neutrality by 2050, but Rishi Sunak has drawn criticism from environmentalists by announcing several setbacks and reversals on how to achieve it.
Labour, promising a “greener UK,” had to scale back its ambitious spending program on green infrastructure after being accused of not being able to finance it.
Meanwhile, Labour asserts that they aim for “100% clean energy” by 2030 and intend to establish a new public energy company to achieve this goal.