Energy companies have doubled their profit margins at your expense

When Ed Miliband announced plans to freeze energy prices for two years as the market was reset, the energy companies squealed that they couldn’t afford such action. They were wrong. Not only has one major energy supplier (SSE) frozen their energy prices until 2016, it turns out that energy companies have doubled their profits in the last year at your expense.

As wholesale gas prices have fallen (rather than rising, as many energy companies claimed), the profit margin on gas and dual fuel bills has doubled in the past year. Lets see how that looks as a graph:

They say they can’t afford to keep your prices frozen. In fact, they could afford to cut your energy prices right now if they really wanted to. Millions of people are struggling o pay their energy bills – whilst the energy companies double their profits.

And meanwhile, the Tories haven’t stopped this. In fact, they’ve boosted energy company profits – as only two of the big six have passed on the full savings from the government cutting the cost of green levies in December.