Adam Harmsworth, Coventry Socialist Party
The new lower energy price cap will do nothing to alleviate rising fuel poverty and the cost-of-living crisis. The price cap is falling by £577 compared to last winter, but several factors mean many bill-payers will see little difference, or even be worse off.
The £400 energy bills subsidy provided by the government last year won’t be there this time. Other household bills have also risen in that time, less energy efficient homes – more likely to be owned or rented by those on lower incomes – will cost even more to heat.
Even if you reduce your energy use, your bills could still go up. Many suppliers are putting standing charges up.
The Tories are leaving millions to struggle with obscenely high bills, all so the energy companies can keep making gigantic profits. A recent YouGov survey found 34% of adults expect to struggle to afford their energy bills. Meanwhile, the big energy suppliers are making hundreds of millions of pounds. British Gas profits soared nearly 900% in January to June this year.
The limited extra support is only available to those who receive means-tested benefits, something not all those struggling with bills receive.
The money the government does provide is coming from the Treasury rather than from the profit-hoarding energy giants. It means we’re paying through the nose for energy as well as our taxes funding energy companies’ profits!
Socialist alternative
The Socialist Party will keep fighting for an end to this money-grabbing merry-go-round at the expense of hundreds of thousands of workers, pensioners, and students going cold in their homes.
The energy industry should be nationalised with no compensation to the bosses who have been siphoning money for years. And it should be run democratically on a socialist basis. We would be able to invest in the improvements to infrastructure and provide the improvements needed to heat our homes efficiently. Only this will ensure energy security for all.
