Latest Press Releases
| SNP DEMANDS ACTION AS ENERGY FIRMS’ PROFIT MARGINS SOAR |
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| Wednesday, 26 October 2011 14:31 |
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Commenting on a report by Ofgem which reveals that energy firm profit margins have risen to £125 per customer per year, from £15 in June, SNP MP for Moray, Angus Robertson, alongside SNP Westminster colleagues is demanding action from the UK Government.
Local MP Mr Robdertson said: “ Energy companies should be ashamed of these margins at a time when ordinary customers are reeling from soaring bills. “ The energy companies say that they need to push prices up to make investments in the sector, and while that is true to some extent, an increase of more than 700 per cent in four months simply cannot be justified. “ While prices soar, all the UK Government suggest is that customers shop around. But, when we have just seen the big six energy suppliers go through a “follow my lead” of rising energy prices over the last few months, how is the average consumer supposed to know what is a good deal without knowing when the next company is going to hike prices? “ Prices are rising much faster even than the ability to cut costs by reducing consumption. “ If the UK government were serious about the reduction in energy bills they need to look at how prices rise quickly when the wholesale price goes up, but fall slowly, if at all, when the wholesale price falls. “ Rising fuel bills means increased VAT payments for the Treasury. This extra cash must be used to tackle fuel poverty. " With fuel poverty amid energy plenty the energy market clearly is not working for the consumer and there is now an overwhelming case for action to help customers cope.” |
