Polly Billington MP: speeches

Speeches

• 1 Sept 2026 · Draft Energy Prices Act 2022 (Extension of Time Limit) (No. 2) Regulations 2026 · Hansard source

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  I thank hon. Members for their contributions, and I will turn briefly to the points raised. The No. 1 priority of this Government is to tackle the cost of living crisis that people face. The Government acted at last year’s Budget by taking an average £150 of costs off energy bills. Those decisions are now factored into bills for the years to come. That decision was taken at the autumn Budget 2025 before the conflict in the middle east and the subsequent increase in wholesale energy prices. As a result, households are better protected from those increases than they would otherwise have been. The rise in the price cap announced by Ofgem will be deeply concerning news for families. We will continue to monitor the situation ahead of the winter and plan for all contingencies. I recognise that some would like us to go further in immediately reducing bills in response to recent events. One of the first steps that the new Prime Minister took was to cut VAT on electricity bills. Without that intervention, the price cap figure would have been around £45 higher than announced. Although the price cap will increase by 4% on 1 October, driven by ongoing wholesale price volatility as a direct consequence of the events in the middle east, it would have been considerably higher still without the ongoing effects of moving the renewables obligation to the Exchequer, which continues to suppress bills. Where impacts have been felt by those outside the energy price cap, we have acted, with £53 million of support via the crisis and resilience fund for vulnerable heating oil customers announced in March. I thank my hon. Friend the Member for South West Norfolk for his question about the crisis and resilience fund. I understand people’s concern about whether they should apply. I urge anyone who relies on heating oil who has any concerns about their ability to afford to keep their home warm this winter to apply to the fund, and I will be keen to ensure that local authorities recognise their responsibilities when it comes to disbursing funds accordingly.