I've also shown how they put prices up as quickly as possible (in response to "rising wholesale prices" they say) but they never come down as fast. As one politician put it quite recently "They put prices up like a rocket, and bring them down like a feather".
But now, it seems, the game may be up. Yesterday (10th February), a hundred leading figures, including economists, politicians (with cross part support), charities, civil society leaders, religious leaders and celebs, have sent an open letter to the Independent newspaper urging the government to tax the profits of the 'Big Six' energy companies (who supply the vast majority of homes) to curb their behaviour.
They want a windfall tax on their massive profits, and the revenue to be used to make homes more energy efficient, particularly those living in fuel poverty (who spend around 15% of their income on fuel). They also want a cap on price rises to stop them simply clawing back the loss.
The Big Six, between them, made £3.5 billion profit in just the first 6 months of the current financial year, and managed to increase their profits by 733% in just 3 months! Meanwhile prices are so high that poorer families literally have to make the choice between 'heating or eating'. That's obscene.
When gas and electric supplies were privatised a few decades ago, we were told it would bring prices down through competition. What's actually happened since then is the opposite. The Big Six have effectively colluded to push up prices by more than inflation year after year after year. Now we're in the situation where even 'middle-classes' are feeling the pain. It must be desperate for those on low incomes, especially in the middle of the current recession.
It's time for the government to act.
More here.
End the Big Six Price Fix campaign.
No comments:
Post a Comment