Simon Francis, coordinator at End Fuel Poverty Coalition, said: “These astronomical profits are a startling reminder that when conflict drives up the price of oil and gas, energy companies profit and households pay. That is not a coincidence, it is a consequence of the way our energy system is structured.
“While the energy industry lobbies against the Energy Profits Levy, we are now seeing the level of profits being posted which shows why a Windfall Tax it is so necessary.
“Household bills are forecast to surge again from July, up 90% on pre-crisis levels. The Government must respond with emergency support for the hardest-hit households and accelerate the shift to a renewables-led energy system that insulates people from price shocks caused by our exposure to oil and gas markets.”
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