The U.K.’s opposition Labour Party said it will set up an energy board if it wins next year’s election, giving authorities the power to force utilities to cut their bills when wholesale costs decline.
The opposition Labour Party pledged to break up Britain’s six largest energy companies and force them to trade all their electricity on the open market to drive down prices for consumers if it wins the next election.
Britain’s opposition Labour and Green parties joined a push for the government to impose a carbon target on the power industry, setting the stage for a battle over the energy bill in Parliament.
U.K. Energy Secretary Ed Davey said the country would be at risk of blackouts if the opposition Labour Party’s energy policy is ever put into practice.
A Labour government would cap British gas and electricity prices until the start of 2017 if it wins the 2015 election, party leader Ed Miliband said.
Centrica Plc and SSE Plc led four of the U.K.’s “Big Six” energy suppliers in saying they’ll cut consumer bills after the government pledged to reduce green levies to ease the cost of living.
"Let 's watch this space."
- Caroline Flint on Oct 15, 2014