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This petition was submitted during the 2019 to 2024 Parliament

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Closed Introduce a "Triple lock" to restrict energy cap increases

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We want legislation introduced to restrict the energy cap so that it can rise by no more than the lowest of:

The rate of inflation
The average wage increase
The interest rate set by the Bank of England

Major UK listed energy companies are raking in billions of pounds of profit as many people of the UK choose between eating and heating.

Energy bills for consumers are hitting record highs as the big firms rake in record profits. These profits only benefit the executives and shareholders, who are paid millions of pounds.

Energy is essential and people should not be exploited in this way for profit. Restrictions on the energy cap in line with what people can afford would help fix this issue.

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  • Petition closed

  • Related activity

    MPs investigate energy pricing and the energy market

    The MPs on the House of Commons Business, Energy and Industrial Strategy Committee have been investigating energy pricing and the energy market, including Government support to help people with their energy bills.

    Report on energy pricing and the energy market

    In July the Committee published a report on energy pricing and the energy market. In their report, MPs called on the Government to help the most exposed households by updating its energy bills support. They also called on the Government to consider a social tariff for the most vulnerable customers.

    Evidence session on the cost of living crisis

    Last month the Committee questioned business representatives, unions and consumer groups about climbing energy bills, inflation, interest rates, food and material costs, the impact these trends are having, and how they expect the crisis to develop.

    Select Committee podcast

    The Chair of the Business, Energy and Industrial Strategy Committee, Darren Jones MP, is hosting the current series of the Committee Corridor podcast. This is a fortnightly podcast that brings together Members of Parliament from the different select committees in the House of Commons to interview experts and discuss the most pressing political, social and economic matters facing the UK today.

    The current series is focusing on the cost of living, and in the first episode Darren spoke to the Chief Executive of the Resolution Foundation, and the MPs who Chair the Women and Equalities and Work and Pensions Committee.

    What is the Home Affairs Committee?

    The Business, Energy and Industrial Strategy Committee is a cross-party group of backbench MPs that looks into the work of the Home Office and its associated public bodies.

    The Business, Energy and Industrial Strategy Committee is a select committee. Find out how select committees work.

    Get involved in the work of the UK Parliament

    Sign up to the Your UK Parliament newsletter for the latest information on how to get involved and make a difference.

  • Petition published

    This petition can now be signed.

    If this petition gets 10,000 signatures, government will respond to it.

    If this petition gets 100,000 signatures, it will be considered for debate in Parliament.

    This petition will stay open until 19 February 2023.