The need for a change in policy over the big 6 energy companies profits is necessary. David Cameron has buckled under the pressure applied by the big 6. He wants to roll back the targets set under the Energy Companies Obligation (ECO). This will mean the UK will not be able to meet the targets set for carbon reduction. Cameron also wants to move the ECO levy on the big 6 to general taxation. This means that all the UK taxpayers will pay for these measures at a time when the big 6 are making record profits.
The purpose of ECO is to help those living at or below the poverty line to reduce their carbon emissions and lower their bills. There are 2.7 million families with old inefficient heating systems that need help from the government to increase efficiency and save money. The changes being planed by our PM will change who pays from the profiteering big 6 to you the taxpayer.
Labour’s Shadow Minister for Energy and Climate Change has this to say:
“Even after these changes to levies, energy bills are still rising and the average household will still be paying £70 more for their energy than last winter,” said Labour’s Shadow Energy and Climate Change Secretary, Caroline Flint. “Any help is better than none, but you can judge this Government by who they’re asking to pick up the tab – the taxpayer. The energy companies have got off scot-free.
“This shows why nothing less than a price freeze and action to reset the market to stop the energy companies overcharging again in the future will do.”
You can read more of Ms Flint’s quotes here – ITV News