Energy secretary Ed Davey is expected to criticise energy companies in a speech on Tuesday, in which he will compare the recent price hikes to the ‘greed’ usually associated with bankers.
Speaking at the trade body Energy UK’s annual conference, Davey is set to say that energy firm make enough profits to invest in their own new technologies that would see costs reduced in the long-term.
He will say, “But those profits cannot come at the expense of the elderly, the vulnerable, and the poorest in our society. Customers are not just cash cows to be squeezed in the pursuit of a higher return for shareholders.
“Trust between those who supply energy and those who use it is breaking down.
“It is so difficult for people to work out what exactly they are paying for that they fear the big energy companies are taking them for a ride when bills go up.”
These claims have already been dismissed by Energy UK. A spokesperson accused Davey of engaging in a “tit for tat Punch and Judy show”.
They added, “The energy industry is vital to the UK. It is a major employer, a serious investor and a significant taxpayer. As analysis from UBS shows, about 95% of rising energy costs are out of the hands of the energy companies and can be attributed to government policies and other network, social and environmental costs.”
Coinciding with the conference, Energy UK is also launching Energy Made Clear, an initiative to provide consumers with information on switching, prices and energy saving tips.
Angela Knight, CEO of the organisation, said, “Many people are not aware of the help that is available to them when they get into difficulty. Energy Made Clear will make it easier to people to understand how the industry works and get the help they need if they need it.”
Like our Facebook Page
Are Vegan Shoes A Sustainable Option?
How to Be More Eco-Conscious In Your Everyday Life
Tips To Become More Sustainable At Home
Modern Log Cabins: Sustainability and Aesthetics
The Basics of Starting a Eco-Friendly DIY Project
Importance of Shore Hardness for Sustainable Hobbyists
Green Healthcare Practice Patient Data Compliance Guidelines
Guidance on Trading Bitcoin as an Eco-Friendly Investor
The 5 Best Places for an Eco-Friendly Student Trip in Africa
The Importance of A Good Kitchen In an Eco-Friendly House
Why Making Your Business Sustainable Is More Important Than Ever
5 Essential Smart Building Systems for the 21st Century City
Investing in the Ethical and Eco-friendly Has Never Been Easier
The Most Popular Environment-Friendly Flooring Options
Five Ways to Make Your Bathroom More Sustainable
The Environmental Impact of Bitcoin Replacing Fiat Currencies
A Guide Transitioning to Safer and Environmentally-Friendly Chemicals
Role of HR in Sustainable Businesses
Tips To Make Air Conditioning Eco-Friendly
5 Reasons For Your Business To Go Green (Beyond Helping The Planet)
- Features9 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy10 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features9 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Invest12 months ago
The Eco-Friendly Evolution of Bitcoin Over the Years