EDM 838: Energy price cap increase

That this House notes with concern the further increase of the energy price cap by Ofgem from April 2025; further notes at 6.4%, or an average £111 per year, this is higher than expected and higher than the rate of inflation and average pay increases; acknowledges the research by Citizens Advice which shows the energy network owners have made excess profits of nearly £4 billion over four years after Ofgem miscalculated their costs; and calls on the Government to step in to prevent these damaging rises, either through introducing an emergency windfall tax on these excess profits and the introduction of targeted energy bill support or by instructing Ofgem to ensure they put the protection of consumer interests first and reverse the price cap rises and pass the costs onto the owners of the energy network.