https://morningstaronline.co.uk/article/national-grid-2bn-profits-lay-bare-britain-broken-energy-system-campaigners-say

‘It is time our energy infrastructure was brought back into public ownership,’ Unite general secretary says

CAMPAIGNERS intensified their demands for energy infrastructure to be brought back into full public ownership today after the National Grid posted a 14 per cent increase in underlying profits.

The firm, which builds and runs power grids and cables across Britain, reported an underlying operating profit of £2.05 billion for the six months until September 30, surpassing £1.8bn in the same period last year.

The grid charges energy suppliers for network use. Costs are then passed on to consumers through their bills, which rose by another 10 per cent last month.

In 2023, National Grid shareholders received £1.6bn in dividends, while six million households remained trapped in fuel poverty amid skyrocketing costs.

Unite general secretary Sharon Graham said National Grid’s profits “lay bare” Britain’s broken energy system.

She said: “Energy profiteers like National Grid are extracting cash for overseas shareholders through ever more expensive bills.

“It is time our energy infrastructure was brought back into public ownership so that the British people and economy benefit rather than foreign wealth funds.”

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