The energy price cap hike is just the start of Labour’s problems
Spectator (UK)AUG 2024
UK Energy Prices to Jump 10% in October
Above: Prime Minister Sir Keir Starmer and First Minister of Wales Eluned Morgan during a visit to Brechfa Forest West Wind Farm, a clean energy site in Pencader, South Wales Image copyright: WPA Pool/Pool/Getty Images News via Getty Images
The Spin
Conservative Party narrative
A 10% cap increase is far too high at a time when inflation was just going down and the winter fuel credit has been scrapped. This is likely Keir Starmer's attempt at priming citizens for their future under the Labour Party's wind and solar energy agenda, which will lead to rising costs from importing oil when the sun isn't shining and the wind isn't blowing.
Labour Party narrative
While immediate negative reactions to this policy are understandable, this price cap change is due to geopolitical and environmental factors that the government couldn't prevent. It's also important to note that energy prices in October will be far lower than last October, as Labour is doing everything it can to address the abysmal economy it inherited from the Conservatives.