UK: Windfall profits over energy

Caroline Flint

Caroline Flint - Credit: PA

Britain’s big six energy companies have enjoyed a £3.3billion windfall in profits over the last three years, Labour has claimed.

Shadow energy and climate change secretary Caroline Flint has criticised David Cameron’s government for failing to reform the “broken” energy market at a time when families are struggling with a “cost of living crisis”.

She said: “The public have been left with a £3.3bn price tag for David Cameron’s failure to act on rip-off energy bills.

“He’s totally out of touch with millions of people and small businesses who are struggling with soaring energy bills.

“His failure to reform Britain’s broken energy market is leaving hard-pressed bill-payers massively out of pocket.

“With warnings of more price rises this winter, it’s clearer than ever that Britain needs a One Nation Labour government to break the dominance of the energy giants, protect the public from being ripped off and create a tough new energy watchdog with the power to force energy companies to pass on savings to consumers.”