Energy bills statement calculation and justification: FOI release

Information requested

The full calculations and justification for the following statement made by Mr. Swinney during FMQs:

“There will, of course, be consequences for the public. Their energy bills will not be cut by the £300 that was proposed by the Labour Party. Energy bills will still be, on average, £340 a year higher than the Prime Minister promised that they would be.”

Response

During the UK general election in July 2024, the current UK Government promised to cut energy bills by £300 per year.

In July 2024, the energy price cap set by Ofgem meant that a typical household who used both electricity and gas, and paid by Direct Debit, would pay £1,568 for their energy per year. The most recent price cap means that the same typical household will pay £1,758 per year for their energy – £190 higher than at the time of the election.

Measures in the recently announced UK budget are expected to reduce energy bills by approximately £150 per year next year. This means that, even taking account of the budget measures, and based on the most recently available price cap, bills would be £40 higher than at the time of the election.

Therefore, bills will still be, on average, £340 a year higher than the Prime Minister promised that they would be.

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