ofgem

Tax every penny of windfall profits oil and gas giants have made since illegal war on Iran, say Greens

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Green Party MP Hannah Spencer by ©House of Commons, CC BY 3.0
Green Party MP Hannah Spencer by ©House of Commons, CC BY 3.0

Commenting on the new energy price cap announced today by the Regulator Ofgem, that could see a 13% increase in a typical household’s energy prices, Hannah Spencer, Green MP for Gorton and Denton, said:

“Today’s Ofgem price cap announcement will leave so many people even more stressed out and worried about affording their energy bills. Millions of people are already struggling to make ends meet, and it is unacceptable that energy costs continue to shoot up whilst BP’s profits double. 

“We need immediate government intervention. Rachel Reeves needs to step in and freeze the cap before energy bills go up on July 1st. And if she’s wondering how to pay for it, there are some people doing very well out of this crisis. The government should start by taxing every penny of the huge windfall profits oil and gas giants have made since the start of the illegal war on Iran.

“Our energy market is incredibly unfair, built to line the pockets of shareholders whilst working people foot the bill. It’s a damning indictment of rip off Britain that simply keeping our homes warm enough in winter and cool enough in summer has become a luxury very few people can afford. We need urgent action, now.”

Continue ReadingTax every penny of windfall profits oil and gas giants have made since illegal war on Iran, say Greens

13% energy price hike makes ‘workers pay for Trump’s war’

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https://morningstaronline.co.uk/article/13-energy-price-hike-makes-workers-pay-trumps-war

 Go further, faster: Paul Nowak

HOUSEHOLDS must not bear the brunt of US President Donald Trump’s illegal war, campaigners warned today, as energy bills are set to rise by 13 per cent.  

Ofgem’s new price cap from July 1 will see the typical household face an annual energy cost of £1,862 — up £221 on current levels, or £18 a month. 

The regulator said higher wholesale gas prices, “driven by ongoing conflict in the Middle East,” were behind the increase. 

Energy costs have soared since the US and Israel began their war on Iran and the subsequent blocking of the Strait of Hormuz.

Calls have mounted for the government to set out action to support the most vulnerable with bills, but Chancellor Rachel Reeves has refused any immediate energy measures in her cost-of-living plan. 

TUC general secretary Paul Nowak said the government must “go further and faster to protect households from punishing energy price rises in the coming months.”

“Households must not bear the brunt of costs from Trump’s illegal war,” he said.

“Painful energy price rises are coming down the track — and working people are already feeling the pinch with fuel costs rising because of Trumpflation.

…

Eva Watkinson of Debt Justice called it a “scandal” that the cap was rising while energy companies continued to post enormous profits, saying the government must “immediately act to write off debts that have built up during the cost-of-living crisis.”

Green MP Hannah Spencer demanded immediate government intervention, telling Ms Reeves to freeze the cap before bills go up. 

“And if she’s wondering how to pay for it, there are some people doing very well out of this crisis,” she said. 

“The government should start by taxing 100 per cent of the huge windfall profits oil and gas giants have made since the start of the illegal war on Iran.”

https://morningstaronline.co.uk/article/13-energy-price-hike-makes-workers-pay-trumps-war

Keir Starmer explains that UK is actively supporting Israel's genocidal expansion and repeats his previous quotation that he supports Zionism "without qualification". Keir Starmer said “I said it loud and clear – and meant it – that I support Zionism without qualification.” here: https://www.jewishnews.co.uk/keir-starmer-interview-i-will-work-to-eradicate-antisemitism-from-day-one/
Keir Starmer explains that UK is actively supporting Israel’s genocidal expansion and repeats his previous quotation that he supports Zionism “without qualification”. Keir Starmer said “I said it loud and clear – and meant it – that I support Zionism without qualification.” here: https://www.jewishnews.co.uk/keir-starmer-interview-i-will-work-to-eradicate-antisemitism-from-day-one/
Continue Reading13% energy price hike makes ‘workers pay for Trump’s war’

‘Never-ending cost-of-living crisis’

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https://morningstaronline.co.uk/article/never-ending-cost-living-crisis

 An online energy bill

Labour urged to reform energy pricing over surprise rise in bills

LABOUR was urged to reform energy pricing yesterday as unions and campaigners warned that a surprise 2 per cent rise in bills will hit 12 million homes already in fuel poverty.

GMB union hit out at the “never-ending cost-of-living crisis” after regulator Ofgem announced that the average household’s energy bill is to rise to £1,755 a year from October — despite wholesale prices falling by 2 per cent over the past three months.

Standing charges — the figure consumers pay per day to have energy supplied to their homes — are set to rise by 4 per cent for electricity and a whopping 14 per cent for gas, or 7p a day.

The 2.21 per cent year-on-year rise means average annual energy bills will be £713 higher than in winter 2020/21.

GMB national secretary Andy Prendergast said: “People are already struggling under a never-ending cost-of-living crisis.

“Any increase in energy prices could crash millions of household budgets.

“To make any green transition work, the UK has to be pragmatic: taking advantage of cheap gas prices to cut bills instead of subsidising heat pumps for the richest.

“The poorest in society must not be the ones who bear the biggest burden for saving our planet.”

Energy minister Michael Shanks blamed wholesale gas prices remaining 75 per cent above their levels before Russia invaded Ukraine. 

But End Fuel Poverty Coalition co-ordinator Simon Francis said: “We need urgent reforms to fix the broken pricing system, steps to ensure households benefit from targeted support for cold homes, a nationwide insulation and ventilation drive, reform of energy trading rules and lower standing charges.

“Meanwhile, expansion of renewables and upgrading the grid must be funded by investment or by tackling excess network and energy company profits, not by loading more costs onto struggling households.”

Pointing out that gas unit rates remain almost double pre-crisis levels and the cost of electricity in Britain is set by the most expensive generator — usually gas-fired power stations — he added: “It’s time for action — wind and solar are far cheaper ways of generating power and North Sea gas reserves are unable to meet domestic heating needs from 2027.”

…

Article continues at https://morningstaronline.co.uk/article/never-ending-cost-living-crisis

Continue Reading‘Never-ending cost-of-living crisis’

Households set to be £400 worse off this tax year, report finds

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https://morningstaronline.co.uk/article/households-set-be-ps400-worse-tax-year-report-finds

Money stacked on top of a council tax bill

WORKING-AGE households are set to be an average of £400 worse off in the year ahead amid income squeezes and bill hikes, the Resolution Foundation has warned.

A new report by the think tank estimates that the disposable income of a typical household will fall by 1 per cent, while those across the poorest half of Britain are set for a sharper 2 per cent fall, losing the equivalent of £300.

One contributing factor is council tax rises, with households facing an £80-per-year average increase as rates rise by 5 per cent across most of England, 7 per cent in Wales and 9 per cent in Scotland.

Above-inflation increases in water charges will hit even harder, pushing bills up by an extra £120 on average.

Ofgem’s 6.4 per cent increase in the energy price cap adds another £111 a year on average from this month, although the Resolution Foundation believes that the impact of the change will be limited, with prices expected to fall in July.

Working-age benefits will not keep pace with inflation this year, the think tank warned, with April’s 1.7 per cent boost falling short of the 3.2 per cent consumer prices index rate projected for this year.

Meanwhile, private rents have risen by 9 per cent since the local housing allowance was last set.

…

Article continues at https://morningstaronline.co.uk/article/households-set-be-ps400-worse-tax-year-report-finds

Keir Starmer, Angela Rayner and Rachel Reeves wear the uniform of the rich and powerful. They have all had clothes bought for them by multi-millionaire Labour donor Lord Alli. CORRECTION: It appears that Rachel Reeves clothing was provided by Juliet Rosenfeld.
Keir Starmer, Angela Rayner and Rachel Reeves wear the uniform of the rich and powerful. They have all had clothes bought for them by multi-millionaire Labour donor Lord Alli. CORRECTION: It appears that Rachel Reeves clothing was provided by Juliet Rosenfeld.
Continue ReadingHouseholds set to be £400 worse off this tax year, report finds

Anti-Drax protesters disrupt London biomass conference

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https://morningstaronline.co.uk/article/anti-drax-protestors-disrupt-london-biomass-conference

Drax Power Station near Selby

FOUR activists were removed from the Argus Biomass conference today after disrupting the Drax-sponsored event.

Posing as conference attendees, they interrupted a keynote speech by Drax chief sustainability officer Miguel Veiga-Pestana, challenging him on the company’s sustainability record and shouting: “Drax poisons people.”

The wood-burning power plant in Yorkshire, which claims to be sustainable, was recently awarded new government subsidies.

However, a BBC investigation found that Drax had been cutting wood from environmentally important forests in Canada and the firm has been fined by Ofgem for inaccurately reporting data on the sourcing of wood pellets.

…

Article continues at https://morningstaronline.co.uk/article/anti-drax-protestors-disrupt-london-biomass-conference

Orcas comment on killer apes destroying the planet by continuing to burn fossil fuels.
Orcas comment on killer apes destroying the planet by continuing to burn fossil fuels.
Continue ReadingAnti-Drax protesters disrupt London biomass conference