Simon Francis, coordinator of the End Fuel Poverty Coalition, said: “A breakdown in the ceasefire in the Middle East has sent oil and gas prices soaring again. Every lurch in the fossil fuel prices lands in the same place: on the bills of households who did nothing to cause it and cannot escape it. The only people who benefit from the volatility are the shareholders and executives whose fortunes climb with each price shock, among them some of the wealthiest people in the country.
“This is the country’s energy system delivers. Ordinary billpayers absorb the pain again while the price shock profiteers bank the gain, then lobby for more drilling that would not take a penny off the bills people are paying now.
“The Energy Profits Levy exists so that a windfall driven by conflict and market chaos is not simply pocketed. That revenue should go to the households being squeezed hardest, to clearing the energy debt built up across the country, and to the home insulation and homegrown clean power projects that are the only lasting way to get bills down and keep them there.”
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