Responding to today's National Grid full year results, which showed that its pre-tax profits have increased to £4.2bn, Unite general secretary Sharon Graham said: "National Grid is raking in huge profits while workers and communities struggle to pay ever-rising bills and manufacturing is made uncompetitive. Our broken energy system needs urgent reform, and that means renationalising the grid.

"While our energy infrastructure remains in private hands key decisions about will always be made with the object of generating massive profits for shareholders, rather than to benefit everyday people and generate economic growth.

"Bringing the grid back into public ownership is the only way to stop this rampant profiteering."

National Grid runs Britain’s electricity delivery infrastructure network. Last year, a report, Unite Investigates: Energy Profiteering, highlighted the private monopoly enjoyed by National Grid and found it had a profit margin of 38 per cent.

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