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THE public is “fed up with being ripped off” by energy companies, anti-poverty campaigners said today, after the National Grid announced annual profits of £3.05 billion.
The energy transmission giant’s financial results for last year showed a decline in profits by 15 per cent.
End Fuel Poverty Coalition coordinator Simon Francis said: “The huge profits being generated by these firms are paid for off the backs of people living in fuel poverty.
“With record levels of energy debt and vulnerable households struggling to make ends meet, groups like National Grid should be forced to use their profits to help clear household energy debt and contribute to an industry fund which could make a social tariff a reality.”
Warm This Winter spokesperson Fiona Waters said: “Everyone is fed up with being ripped off and used as cash machines by energy companies who, week after week, announce billions in profits.
“Even with this Friday’s anticipated price cap reduction, people will still be paying 50 per cent more than they were three years ago for gas and electricity.”
