The U.K.'s main opposition party Labour has pledged to freeze gas and electricity bills for two years if it wins the next election, in an attempt to woo voters fed up with the rising cost of energy.
Labour leader Ed Miliband blamed the current coalition government, led by Prime Minister David Cameron, for driving a dramatic fall in living standards.
"The system is broken and we're going to fix it," Miliband said, speaking at the Labour party conference in Brighton. "If we win that election in 2015, the next Labour government will freeze gas and electricity prices until the start of 2017."
Energy suppliers could be forced to take a hit of £4.5 billion ($7.2 billion) as a result of the measure, a Labour source told Reuters.
Miliband's promise comes amid growing anger in Britain about rising energy costs, which are squeezing living standards, despite suppliers reporting bumper profits. As a result, the so-called "big six" energy firms - Centrica, SSE, Scottish Power, EDF Energy, E.ON and NPower – have all come under pressure to cut their prices.