Wakefield MP Simon Lightwood: Cost of living crisis 'clear national emergency' as typical bills expected to rise to £3,549 a year

The energy watchdog Ofgem has today announced that gas and electricity bills will soar by 80 per cent in October.

Experts have warned that average household bills for customers on standard variable or default tariffs who pay by direct debit will expect to pay on average £3,549 per year in October.

For 4.5m customers across the country using prepayment meters the cap will rise by £1,591 or 79 per cent from £2,017 to £3,608.

The cap will be almost treble what it was a year ago before the first major increase.

Wakefield’s MP Simon Lightwood has called the cost of living crisis a “clear national emergency”.

He said: “News that energy prices will rise by 80% in October will strike fear into the heart of so many families in Wakefield - with a typical bill rising to a record £3,549 year.

“Local businesses are also really struggling to keep their heads above water, pushing many to the brink of collapse.

“This is a clear national emergency, and we need strong leadership and practical solutions to see us through this crisis.

“Under Keir Starmer, Labour has a clear, compassionate and costed plan to save households in Wakefield £1,000 this winter and invest in sustainable British energy to bring bills down in the long-term.

"It would mean that households in Wakefield alone would benefit from £42m in additional support under Labour’s plan.

“We have a choice. This Tory government can carry on letting giant oil and gas producers make huge profits whilst working people and pensioners suffer. Or we can do something about it.”

The next cap will be introduced in January with forecasts from investment firm Cornwall Insight putting the average gas and electricity bill to £5, 387 and the April cap of £6616.

The price cap was introduced with the intention of protecting consumers by limiting the rates suppliers can charge households on standard or variable contracts for each unit of gas and electricity they use, as well as the maximum standing charge for access to the grids.

For help with managing money, visit Wakefield Council’s website https://www.wakefield.gov.uk/more-money-in-my-pocket/money.