The UK Government must stop sitting on its hands and commit to
cut energy bills this winter, instead of allowing energy
companies to rake in record profits while consumers continue to
pay sky-high bills, says the SNP.
Later today, Shell is expected to announce second-quarter profits
of $5.6 billion, whilst Britain’s biggest household energy
supplier, British Gas is expected to report that profits have
reached an all-time high of more than £585 million for the first
half of the year.
These figures coincide with forecasts that winter energy bills
for households are set to remain at historically high levels,
with estimates from Cornwall Insights that consumers are still
facing a 90% hike in their bills this winter compared to
2021.
This week the Irish Government gave a firm commitment that its
forthcoming budget would continue to cut energy bills for
businesses and households. In contrast, the UK government removed
both the Energy Price Guarantee and the £400 Energy Bills Support
Scheme on 30th June and have given no commitment to support
households with their energy bills this coming winter.
Commenting, SNP Energy and Industrial Strategy spokesperson,
said:
“The UK Government is sitting on its hands and allowing energy
companies to rake in record profits at the very same time that
households are paying historically high prices on their energy
bills."
"Wholesale energy prices have fallen significantly, but we know
that the broken UK energy market means bills this winter will
stay around 90% higher compared to 2021. Once again consumers are
paying the price because of Westminster control."
“Instead of withdrawing support from those who need it most, the
UK government should follow the example of the Irish Government
who have recommitted to energy support for businesses and
consumers this upcoming winter. Direct government support was
needed last winter and it will be desperately needed this winter
too.
“The failure of Westminster to protect households through this
crisis shows exactly why Scotland needs independence. Scotland is
an energy rich country, however, with both the pro-Brexit Labour
party and the Tories imposing economic turmoil, it is clear that
independence is the only way to protect Scotland's economy and
build a fairer future."
ENDS
Notes for editors:
Projected profits for Energy companies -
https://www.thetimes.co.uk/article/jeremy-hunt-tells-big-firms-use-your-bumper-profits-to-help-people-wh7rbf7br
‘People issued 12-hour deadline warning to claim £400 energy bill
vouchers’ -
https://www.dailyrecord.co.uk/lifestyle/money/people-issued-12-hour-deadline-30358219
Cornwall Insights ‘Predictions and Insights into the Default
Tariff Cap’ -
https://www.cornwall-insight.com/predictions-and-insights-into-the-default-tariff-cap/
Energy Price Cap 2021 -
https://www.moneysavingexpert.com/utilities/what-is-the-energy-price-cap/
‘Energy supports for households and businesses in Irish Budget’
-
https://www.rte.ie/news/business/2023/0725/1396450-energy-supports-for-households-and-businesses-in-budget/
