“This is nothing short of a national disgrace, families are struggling with sky high bills yet energy companies continue to rake in record profits and all the while the Tory UK Government refuse to act,” said Natalie Don MSP.
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 £969 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.
This is nothing short of a national disgrace.
Families are struggling with sky high bills yet energy companies continue to rake in record profits and all the while the Tory UK Government refuse to act,
Natalie Don MSP added:
“While other Governments act to protect their citizens, the UK government is allowing energy companies to make obscene profits on the back of suffering households who are facing historically high prices on their energy bills.
"As usual energy companies are quick to raise prices when the wholesale energy price rises but are slow to reduce prices when the wholesale energy price falls. The UK energy market is broken and this winter bills will stay at around 90% higher compared to 2021 prices.
“The UK government has already withdrawn the limited support it gave to households and businesses and continue to ignore the obscene profits generated by energy companies.
“The UK government is more interested in protecting obscene profits of the energy companies than helping struggling households.
“It is a disgrace that an energy rich nation like Scotland sees its resources exploited for the greed of energy companies while families struggle to pay their energy bills.
“The Scottish Government has limited powers over energy but has trebled the Fuel Insecurity fund to £30million to help the most vulnerable but the limitation of devolution stops us from going further.
“It’s clear that the UK Tory government and the Brexit-supporting Labour party will do nothing to protect struggling households and that only Independence offers the people of Scotland the opportunity to build a fairer economy which protects struggling households.”