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Soaring Big Six profits outrageous - Government must end rip-off
14 October 2011
Responding to news from Ofgem today revealing that energy firms' profit margins have rocketed to £125 per customer per year, up from £15 in June, Friends of the Earth's Executive Director Andy Atkins said:
"It's outrageous that Big Six profits are soaring while families across the nation struggle to pay rocketing fuel bills and shiver in cold homes.
"Government action to end this rip-off is essential, but Ministers must also tackle the main cause of huge fuel price hikes - our reliance on expensive gas.
"Energy firms must be forced to fix our broken electricity system by investing in energy efficiency and clean, home-grown power we can all afford."
ENDS
Notes to editors
- Friends of the Earth backs Ofgem's call for greater tariff simplicity and transparency, but is also calling for:
- much greater Government subsidy for investment in making people's homes warmer to prevent fuel bills going through the roof - the UK will soon have no taxpayer-funded subsidy for energy efficiency for the first time since the 1970s.
- the Government to encourage new companies into the market to generate and supply clean, British power - and break the Big Six's vice-like grip on the market.
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Published by Friends of the Earth Trust
Last modified: Oct 2011
