Truss accused of ‘siding with profiteering companies’

‘While energy giants continue making vast profits, they should be footing the bill through an expanded windfall tax’

Plaid Cymru’s Westminster leader, Liz Saville Roberts MP, has warned the new Prime Minister against “siding with profiteering companies” to pay for her energy bill policy.

Liz Truss is thought to be planning to freeze bills at around £2,500 – around £500 higher than current levels but more than £1,000 below next month’s cap. The plan is expected to be funded through general taxation and borrowing.

Plaid Cymru are calling for the energy price cap to be slashed to the pre-April levels, which were £1,277 per year for direct debit customers and £1,309 for prepayment customers. The party say that “while energy giants continue making vast profits”, the policy should be paid for through “an expanded windfall tax” rather than general taxation.

Liz Saville Roberts urged the UK Government to permanently reduce energy bills through a “comprehensive home retrofitting scheme” and interest free loans for businesses to invest in “onsite green energy generation”.

Plaid Cymru's Westminster leader, Liz Saville Roberts MP said:

“Liz Truss’ plans on energy bills show that she is siding with the profiteering companies, dictating that it is the people who will pay for the energy crisis for years to come. The policy we expect her to announce will in effect make taxpayers borrow billions to subsidise the shareholders of energy companies.

“While energy giants continue making vast profits, they should be footing the bill through an expanded windfall tax, rather than ordinary people through general taxation.

“With people already struggling, the energy price cap must be slashed to the pre-April levels – anything short of this will require additional packages of support for vulnerable households including doubling the £650 cost of living payment and revising the eligibility criteria to include those on disability benefits, who are currently excluded from support.

“We also need a longer-term solution by the new Prime Minister to reduce energy demand and rapidly increase production of renewable energy. The UK Government must immediately take action to invest in a comprehensive home retrofitting scheme and introduce interest free loans for businesses so that they can take measures to bring down their energy costs such as investing in onsite green energy generation.

“It is mind-boggling, for example, that new homes are still being built fitted with gas boilers rather than heat pumps, that businesses are not incentivised to place solar panels on their roofs. A firm commitment by the Prime Minister to implement these long-term solutions is vital if we are to permanently lower energy bills while also meeting our net-zero commitments.”