An investigation by Unite the union has found that energy firms made £30 billion in profits in just one year, every family paying around £500 on the average energy bill just to fund those profits. This is the second report to arrive at a similar figure, with the Common Wealth think tank suggesting profits make up 24% of an energy bill.
A spokesperson for the End Fuel Poverty Coalition, commented:
“At a time when energy debt is soaring and millions are living in cold, damp homes, it cannot be right that the system continues to prioritise corporate profits over people’s health and wellbeing.
“Instead of turning a blind eye or listening to the powerful lobbyists calling for a cut to the Energy Profits Levy, Ministers must make sure excess profits are clawed back and used to cut bills.
“With proper investment in reforming energy pricing, providing support with bills and a national Warm Homes Plan to upgrade our leaky housing, this Government could end fuel poverty for good.”