In response to the announcement by regulator Ofgem that the energy price cap will increase by 13 per cent in July, Unite general secretary Sharon Graham said:
 
“The increase in the energy cap is a kick in the teeth for workers and families who were already struggling with rising costs and the cost-of-living crisis.
 
“The UK has among the highest energy bills in Europe. The government needs to understand the crisis that is happening to workers and communities in a cost-of-living crisis that means people are faring not living.

“We need decisive action for the short and long term. An immediate and deep cut in the energy price cap, a competent plan that deals with the extortionate industrial energy costs and a plan to renationalise our energy.”
 
Last autumn Unite published its Energy Profiteering report which revealed that the principal reason that UK households have the most expensive energy bills in Europe, is a result of the privatised energy system and company profits. In 2024 energy companies made a total of £30 billion in profits.
 
The report found that the average household is paying £500 of energy bills to the privateers in company profits.
 
Profit margins are excessive, with the average profit margin being 23 per cent, rising to an eye watering, 38 per cent, for companies involved in the grid.
 
Company profits (£30 billion) are a far bigger factor in household bills than green levies.
 
Unite is calling for the renationalisation of the UK’s energy system beginning initially with the grid.
 
ENDS