Energy giants have been accused of cashing in on the cold weather after shocking figures uncovered by Caroline Flint MP, Labour’s Shadow Energy and Climate Change Secretary, revealed that after the latest round of price hikes the energy giants have trebled their profit margins – despite claiming they were only putting up prices because of increased costs.
Caroline Flint MP, Labour’s Shadow Energy and Climate Change Secretary, said:
“It is a scandal that the energy giants have trebled their profit margins in just three short months. People are sick and tired of these rip off tactics. The big energy companies must be stopped from cashing in on the cold weather.
"We need 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."