The party said Full Fact had got its figures wrong, saying the charity did not understand how direct debit works. But Full Fact stood by its analysis on Friday, which said the party failed to take into account that people use more energy in winter, leading Labor to underestimate the cost of freezing bills by at least £5bn, or £340 per household. . In response, Labor is understood to be sticking to its figures because direct charges are not meant to be above the price cap level, regardless of higher winter usage. Keir Starmer announced his plan to freeze the current price cap at £1,971 earlier this summer, funded in part by a higher windfall tax on the profits of oil and gas companies. Ofgem, the energy regulator, has announced that the price cap will rise to £3,549 from October. The rise puts pressure on the next Conservative prime minister, likely Liz Truss, to announce measures to cut bills for households and businesses. Starmer said his plan would save the average household £1,000 and said he did not rule out increasing funding if needed, insisting the proposal is currently fully funded. “What we have is a fully costed, comprehensive plan for this winter that will freeze those prices – that’s welcome news for so many people who are worried sick today,” he told broadcasters. “I accept that in April, May next year we have to look forward to the proposals that exist. “That’s why I said, alongside our plan, we need mid-term and long-term solutions. We need to be much more energy self-sufficient.” Findings by economists at the Institute of Fiscal Studies (IFS) thinktank show the total cost of the plans could be even higher, around £8bn more than Labour’s £29bn forecast price tag. Archie Bland and Nimo Omer take you to the top stories and what they mean, free every weekday morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Will Moy, the chief executive of Full Fact, called on politicians to “face up to their mistakes” if they are to be trusted by the electorate. “Labour’s plan was intended to tackle a serious problem, but the party’s ‘fully funded’ proposals do not add up in a way that will cover the bills this winter,” he said. “When politicians fall short, we can demand better. Politicians must own up to their mistakes if they want to win the trust of the voters.”
