To: The Rt Hon Grant Shapps, Secretary of State for the Department for Energy Security and Net Zero
REGULATE ENERGY COMPANY PROFIT
Sir,
Now is the time to regulate Energy Company profit margins.
Excessive and unwarranted profiteering has been undertaken by Energy providers during recent years due to their normal business margin being applied in times of escalating wholesale costs without any consideration of their previous or current profitability requirement.
Energy providers have demonstrated that they are unable to behave in a socially responsible manner to make only the profit needed to maintain services, research and growth.
It is therefore incumbent on the Government to monitor and regulate the financial profit of these companies so that the potential for further consumer price escalation is managed to an acceptable level through justified financial profit restriction.
This measure will not inhibit energy providers profit or inhibit them from operating in a normal business manner. However it will minimise unreasonable and unacceptable sudden consumer price escalation.
Please give this your urgent attention.
Now is the time to regulate Energy Company profit margins.
Excessive and unwarranted profiteering has been undertaken by Energy providers during recent years due to their normal business margin being applied in times of escalating wholesale costs without any consideration of their previous or current profitability requirement.
Energy providers have demonstrated that they are unable to behave in a socially responsible manner to make only the profit needed to maintain services, research and growth.
It is therefore incumbent on the Government to monitor and regulate the financial profit of these companies so that the potential for further consumer price escalation is managed to an acceptable level through justified financial profit restriction.
This measure will not inhibit energy providers profit or inhibit them from operating in a normal business manner. However it will minimise unreasonable and unacceptable sudden consumer price escalation.
Please give this your urgent attention.
Why is this important?
We all depend on energy in every aspect of our business and personal lives. However it needs to be affordable and without sudden, unexpected and unacceptable profiteering price rises.
