Starmer pledges to cut household energy bills by £400 if Labour win general election

The Independent

Keir Starmer says his government would set up 'Great British Energy', a publicly owned energy company to invest in clean UK power. He says this 'ought to bring down household bills by about £400'. Source: Good Morning Britain, ITV

Transcript

00:00 How much cheaper will our bills be under a Labour government?

00:04 5%, 10%? What will it mean?

00:08 Well, we want to, as you rightly say, set up Great British Energy.

00:12 That's a publicly funded, publicly owned company,

00:16 which is owned by the taxpayer, making money for the taxpayer,

00:19 by investing in clean British power.

00:21 Now, clean British power is, you know, renewables,

00:26 which is about a third of the price of fossil fuels at the moment.

00:30 And that ought to bring down the household bills

00:33 by about £400 for each bill, but that's a permanent drop.

00:38 This is the big difference, I think.

00:40 Everybody, I think, supports the energy price caps

00:43 because we desperately needed those in the last year,

00:46 year and a half, when the energy prices went through the roof.

00:49 But they're sticking plasters, in a sense.

00:51 They cost a lot of money. They're a short-term fix.

00:55 The long-term fix is to have Great British Energy,

00:59 to invest in clean British power and bring down our bills for good.

01:03 It also gives us a couple of other advantages,

01:05 which is that we have energy security because it's our own energy,

01:09 and so Putin can't put his boot on our throat.

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