It looks as if £300 will end up being to Ed Miliband what 45 minutes was to Tony Blair: the number which will forever hang around his neck, dragging him down whatever else he tries to do in politics. Of late, Miliband seems to have stopped repeating his promise to cut £300 from our electricity bills by 2030 as he decarbonizes the electricity grid. And no wonder when Centrica boss Chris O’Shea revealed yesterday his own company’s projections for electricity prices in 2030. They show that far from falling, we will be paying more for power then than we were in the wake of the Ukraine invasion in 2022. Given that the average per household spend on electricity peaked at £1,213 in 2023 and fell back to £1,067 in 2024 (the year that Miliband made is £300 promise), Centrica’s projections appear to suggest that Miliband’s policies will be costing us at least an extra £200 a year.

Of late, Miliband seems to have stopped repeating his promise to cut £300 from our electricity bills by 2030 as he decarbonizes the electricity grid

Rachel Reeves attempted to salvage Miliband’s promise in her last Budget by shifting £150 a year’s........

© The Spectator