13.3bn in Profit for Energy Companies Since 2010
By Anne Lewis-Schneider
Labour party has made claims of a huge profit windfall to the tune of £3.3bn for British big six energy companies, spanning the last 3 years. On the heels of this claim Caroline Flint who is the shadow Energy and Climate Change secretary has said that whilst families are struggling with a cost of living crisis, it would appear that the Government, headed by David Cameron, is failing to bring about change in the energy market.
Caroline Flint went on to say that households are not to be blamed for rising energy bills, and she has placed blame for this in David Cameronís government, adding that he is not in touch with the main issue, and is instead vacillating between tariff changes and methodology. She further stated that it would appear that the public is out on itsí own.
Rising costs in energy bills are said to be a major reason that is causing economic strain for average British families, who are continually trying to make ends meet, and are harder pressed to do so as time passes. The average household is paying around £300 per annum more for their energy bills according to Ofgem, and it would appear that Prime Minister David Cameron is not clamping down on the profiteering of the UKís big six energy suppliers, who are responsible for 98% of the energy used by British households.
Caroline Flint has said that it would appear that UK households will face even bigger bills with the coming winter, and Labour would like to abolish Ofgem and put in itsí place a tougher energy watchdog to monitor the profits made by the big six and to ensure that price cuts are passed on to the consumers when wholesale costs fall. Labour would also like to see the energy companies pooling their power, thus opening up the energy market and making it much more visible through availability to all retailers of energy sources.
With cost of living increasing, Labour has published new figures according to their latest research, which leads Labour to claim that the average UK household today is worse off by an average of £1,350 per year since Prime Minister Davis Cameron took the reins of Government. Labour has further said that it does not see an end to this cost of living crisis in the foreseeable future.
Head Office: EATON HOUSE, STATION ROAD, LEEDS, LS20 8XB Company Registration: 4704157 Vat Registration: 817013852