Dozens of Tory MPs demand Theresa May honours energy cap promise
2 min read
More than 50 Tory MPs have written to Theresa May demanding that she honours a commitment to cap consumers' energy bills.
The Sunday Telegraph reports that some backbenchers are considering tabling an amendment to Philip Hammond's next Budget, due in November, to force the Government's hand.
Among the signatories are former Tory leader Iain Duncan Smith, and former Cabinet ministers Andrew Mitchell and Caroline Spelman.
The Prime Minister had been expected to include a price cap in her party's general election manifesto, but only pledged to commission an "independent review" of rising costs.
That was despite saying on the campaign trail that the Government "should be doing something to curb rip-off energy bills".
Earlier this week the head of energy regulator Ofgem said it was up to ministers to bring forward legislation if they want to cap household bills.
The watchdog has so far proposed only a "safeguard tariff", aimed at protecting 2.2m of the most vulnerable customers from rising bills.
The Tory backbench intervention, which is also backed by Tory and SNP MPs, comes after British Gas announced price rises of 12.5% earlier this year.
Rather than an absolute cap, the MPs are calling for a "relative cap" to regulate the difference between an energy provider's best deal and the Standard Variable Tariff.
The letter, organised by former minister John Penrose, calls for action to protect ""all of the 17 million families currently on expensive Standard Variable Tariff deals, not just the two million vulnerable ones".
"As you can see from our signatures below, the idea has substantial cross-party support," the letter continues.
"It was promised in the three leading party manifestos and a temporary, relative price cap has support from most of the ‘challenger’ energy firms – the insurgents who are challenging the dominance of the ‘Big Six’ incumbents, and providing choice and stronger competition, which benefits consumers.
“We hope you will work with us and Ofgem to stop this Big-6 stitch-up, and pledge to help the millions of households who Ofgem seem set to ignore.”
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