Thousands chill as energy firms profit

This is the message in a good piece by Tom Greatrex MP in today’s Scotland on Sunday. The Shadow Energy  Minister gives a concise overview of the mess the UK Government has got into over energy prices and is also critical of the Scottish Government’s actions on fuel poverty. He concludes:
“The reality is that there is a fundamental problem with the energy market which currently does not work in the public interest.”

He goes on to set out three actions Labour would take to provide support to consumers. Utilities Scotland covered this policy paper earlier this week. A stronger regulator, cheapest tariff for o/75’s and an energy generation pool. He puts most emphasis on the latter:

“But, more than anything, we need root and branch reform of how the energy market operates. At the moment, companies like Scottish Gas generate their own power and sell it on to themselves and each other, which eventually makes its way into our homes. There is so little transparency about this process that it is virtually impossible to know what the true cost of this is, and whether claims by energy companies about the impact of wholesale costs and the reinvestment of profits are accurate.”

This is an important point and one Utilities Scotland will return to shortly with an inside view of how this kid on market works. Tom Greatrex concludes:

“Public trust in energy companies and the willingness of government to stand up to them is at rock bottom. Whilst Cameron and his out-of-touch ministers do nothing to tackle rising prices, on Salmond’s watch Scotland has become the fuel poverty capital of the UK. Energy bill payers in Scotland need help from both governments at a time like this, but at the moment they are being let down in the worst way.”

 

 

 

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