What was the basis for Labour’s claim about £300 energy bill savings?

The Conservatives have claimed Labour “lied” about how much its energy plans would save people on their energy bills.

Labour said during the election that its plan to achieve ‘clean energy’ (meaning power generated through fossil-free energy sources) would save families “up to £300” on their bills per year by 2030.

But it was reported by the Daily Mail yesterday that Number 10 would no longer commit to this figure.

We looked at this figure before the election and found that at that point it was already out of date.

It’s based on a report by the energy think tank Ember, which estimated that under a scenario in which the UK met its renewable energy commitments, the average household electricity bill would be around £300 lower in 2030 than in 2023.

However, the £300 figure is based on the level of the energy price cap in July-September 2023. The price cap has since decreased (though is forecast to increase again later this year).

The £300 figure is also not a direct assessment of the impact of Labour’s plans, but an estimate of the impact of a different, less ambitious scenario than Labour is proposing.