ENERGY COMPANIES’ £3.3bn PROFIT BOOST while 4,299 local households face fuel poverty

article-1320577-0AE44F5B000005DC-583_474x306Shocking figures uncovered by Labour

Shocking figures have revealed that 4,299 households in the Denton and Reddish constituency (which includes Audenshaw, Denton, Dukinfield, Reddish and parts of the Heatons) are in fuel poverty, and thousands more are facing a cost of living crisis – at the same time as Britain’s big six energy companies have enjoyed a £3.3 billion uplift in profits since David Cameron became Prime Minister in 2010. The average family’s energy bill has increased by more than £300 a year since the last election.

Andrew Gwynne MP, said:

“People across the Denton and Reddish constituency have been left with a £3.3 billion price tag for David Cameron’s failure to act on rip-off energy bills. He’s totally out of touch with millions of people and small businesses who are struggling with soaring energy bills. His failure to reform Britain’s broken energy market is leaving hard-pressed bill-payers in Denton and Reddish massively out of pocket.”

Caroline Flint MP, Labour’s Shadow Energy and Climate Change Secretary, said:

“With warnings of more price rises this winter, it’s clearer than ever that Britain needs 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.”

Notes to Editors

  1. On 8 August 2013, the Department for Energy and Climate Change published their latest estimate of the number of households in fuel poverty. They reveal that 4,299 households in the Denton and Reddish constituency are in fuel poverty. Source: Fuel poverty sub-regional statistics, DECC 
  2. Since 2009 Britain’s Big Six energy companies (British Gas, E.ON, EDF, npower, Scottish Power and SSE) have been required to report to Ofgem on their annual profits for generating and selling power. Between them they supply 98% of households in Britain. These figures reveal that the total profits (earnings before interest and taxation) of the Big Six energy companies increased from £2.158 billion in 2009 to £2.219 billion in 2010, £3.867 billion in 2011, and £3.737 billion in 2012, representing a total uplift in profits of over £3.3 billion since 2010:
Year  Total yearly profits (£ millions)  Increase in yearly profits compared to 2009 (£ millions)  Cumulative increase in profits compared to 2009 (£ millions)
2009 2158 N/A N/A
2010 2219 60 60
2011 3867 1709 1769
2012 3737 1579 3348
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