Full Facts has contested Labour’s plan to freeze the energy cap, claiming that Labour is £5 billion off target.

Full Fact, an independent fact-checking nonprofit, has accused Labour of underfunding their energy price limit freeze by at least £5 billion. 

The party claimed that Full Fact had made errors in its calculations and that the charity did not understand how direct debit worked. 

However, Full Fact stood by its research on Friday, claiming that the party had failed to account for the fact that individuals use more energy in the winter, allowing Labour to underestimate the cost of freezing bills by at least £5 billion, or £340 per home. 

In response, Labour is said to be sticking to its numbers, since direct debits are not supposed to be greater than the price ceiling, regardless of increasing consumption in the winter. 

Major Brand Discounts

Keir Starmer unveiled his proposal to freeze the existing price maximum of £1,971 earlier this summer, which would be paid in part by a greater windfall tax on oil and gas profits. 

The energy regulator, Ofgem, said that the price ceiling will be raised to £3,549 beginning in October. The increase puts pressure on the next Conservative prime minister, who is expected to be Liz Truss, to outline steps to reduce household and business costs. 

Starmer has said that his idea will save the typical family £1,000 and has stated that he would not rule out boosting funds if required, despite the fact that the initiative is already fully financed.

“What we’ve got is a fully costed, comprehensive plan for this winter which will freeze those prices – that is welcome news to so many people who are worried sick today,” Starmer told broadcasters. “I accept that in April, May next year we need to look forward then to the proposals in place.”

“That’s why I’ve said, alongside our plan, we need medium and long-term solutions. We need to be much more self-sufficient when it comes to energy.”

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