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NEWLANDS SLAMS MASSIVE ENERGY PROFITS


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.


That’s the verdict of Paisley and Renfrewshire MP, Gavin Newlands, who hit out at the Government for their handling of the energy price crisis. This week Shell announced second-quarter profits of $5.6 billion, whilst Britain’s biggest household energy supplier, British Gas has reported profits have reached an all-time high of more than £969 million for the first half of the year, while EDF – owned by the French government – raked in £2 billion in profits from its UK operations. 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.

With no sign of any changes to the UK’s energy market and its regulation, fears are growing that the coming winter will see another wave of fuel poverty and households in desperate financial straits.

The SNP MP 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.


“It is a disgrace that in an energy rich country like Scotland, decisions taken elsewhere mean thousands of our citizens will be facing the choice between heating and eating.


“And the insanity of the UK energy market is exposed as an energy company owned by the French government is allowed to take billions in profits in households here through sky-high prices, while in France they were ordered to cap energy prices by their main shareholder.


“Meanwhile the UK Government shrugs and allows a broken system to continue to rip-off consumers and condemn millions to poverty. Once again consumers are paying the price because of Westminster control. “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."

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