Ken Livingstone has launched a bid to create a London-wide energy company to save hundreds of pounds on fuel bills.
The Labour mayoral candidate said he wants to “put money back in Londoners’ pockets” by creating a “London Energy Co-operative [that] will be able to purchase energy on the wholesale markets”.
He believes it could save Londoners up to £120 off their bills. Mr Livingstone said: “Soaring energy bills are hitting Londoners hard. I will set up a London Energy Co-operative that will seek to break the power of rip-off energy companies and provide a cheaper alternative for the millions of families that are struggling with their bills.”
Mr Livingstone added that average energy bills had risen by over £300 a year under Boris Johnson.
“At the heart of this election is a clear choice for Londoners — a Mayor who will take action to ease the squeeze Londoners are facing or an out of touch Mayor who will cost Londoners dear,” he said.
