Big six energy firms accused of ‘cold-blooded profiteering’

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The big six energy suppliers have been accused of “cold-blooded profiteering” after official figures showed they had more than doubled their retail profit margins over the last 18 months and were now earning an average of £95 profit per household on dual-fuel bills.The industry regulator Ofgem, which produced the estimates, said profits per household would reach £100 over the next 12 months.Other new figures obtained from British Gas, EDF and the four other suppliers showed their profit margin from power generation – a separate part of the business – averaged more than 24% in 2011. They are believed to have risen since.The escalating earnings were condemned by fuel poverty campaigners, rival energy companies and the shadow energy secretary, Caroline Flint.

via Big six energy firms accused of ‘cold-blooded profiteering’ | Business | The Guardian.

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