Beth Winter’s response to the energy price cap announcement:

• The energy market is out of control
• The price cap rise cannot be allowed to go ahead
• Increase the windfall tax
• Suspend bonuses and dividend payments
• Restore energy to public ownership

Beth is promoting:

• A cost-of-living rally in Aberdare on Saturday 3 September
• A cost-of-living petition for Cynon Valley residents which she will take to Parliament

Commenting on the new energy price cap announcement by OFGEM, Beth Winter MP said,

“The new energy price cap shows the energy market is out of control.”

“Bills are already unaffordable for many and this puts them beyond reach of many more. The price cap rise cannot be allowed to go ahead.”

“Energy itself will cost more but this announcement will also drive inflation higher. Price rises for everyday essentials are already at record levels and outstripping all pay offers. The price cap is based on ‘typical usage’ for many their actual energy bills will be potentially significantly higher.”

“People in Cynon Valley have already told me they were choosing between heating and eating because of the last increase in energy prices. Now they will increasingly be making life-changing choices about where they spend their money.”

“An emergency government intervention to prevent bills rising further must be the first priority of the new Prime Minister, as Labour has demanded.”

“The Government must commit to holding down bills, but should not reward private businesses that are failing consumers. Energy provision is an essential utility for every household and business and we cannot be held to ransom to pay bonuses to bosses and dividends to shareholders.”

“Therefore in the short-term we have to take measures to increase the windfall tax on the oil and gas companies, and suspend bonuses and dividend payments in both energy generation and supply.”

“The long-term solution needs to involve restoring energy to public ownership. I fully support the Welsh Programme for Government’s commitment to establishing Ynni Cymru, a publicly-owned energy company for Wales but, ultimately, we need public ownership of energy throughout the UK.”

“I am asking residents in the Cynon Valley to back my petition which I will take to Parliament, setting out measures local residents have told me are necessary to deal with the cost-of-living crisis – namely:

• fairer funding for Wales, inflation-proofed increases in pay, pensions and social security, controls on prices in essential household goods, increased taxation of wealth, increased emergency payments to households funded by a windfall tax, and a programme of mass home insulation to lower bills

“I have also called a rally in Aberdare on 3 September, so local residents can get together to talk about the measures we need to take to resolve this crisis. This rally will bring together the General Secretary of Wales TUC, Shav Taj, and the Chair of the Welsh Local Government Association, Rhondda Cynon Taf council leader Andrew Morgan alongside local speakers.”

Notes:
Cynon Valley Cost-of-Living Report
This was compiled in May this year after Beth conducted an online survey, which over 600 local residents responded to.

Cynon Valley Cost-of-Living Petition
To be presented to Parliament in September

Cynon Valley Cost-of-Living Rally
11.00am, Saturday 3rd September
Cynon Linc, Seymour St, Aberdare
Speakers include Beth Winter MP, Andrew Morgan (RCT Council Leader and Chair, Welsh LGA), Shav Taj (General Secretary, Wales TUC), Mark Serwotka (General Secretary, PCS union), Jason Richards (RCT Trades Union Council), Rachel Rowlands (Age Connects Morgannwg)

OFGEM energy price cap announcement
The new energy price cap level of £3,549 per year from October 2022, compares to a rate of £1,277 and £1,971 in October 2021 and April 2022. The percentage change in the energy price cap is therefore 180% higher than it was one year ago and 277% higher than it was eighteen months ago. The price cap is based on ‘typical usage’ for many their actual energy bills will be potentially significantly higher.