'These corporate executives need to know demands for nationalisation are growing'
Protesters will target leading figures from the energy industry today as they highlight company profiteering and demand bringing energy back into public ownership.
The protest will address public anger against the injustice of energy company’s making large profits during a cost-of-living crisis, and as British households face rising bills.
Energy firms made £45 billion last year, whilst skyrocketing bills have left the public owing £2.3 billion in energy debt.
Campaigners will target the Future of Utilities summit taking place this afternoon, which will see representatives from Centrica, the owner of British Gas, National Grid, Scottish Power, Shell and UK Power Networks. Activists will present a giant banner stating ‘Cost of Greed’, sending a loud message to the attendees of the major gathering.
Unite the union has said that support for renationalising the energy sector is growing, with a recent report by the union highlighting how public ownership of the sector could have saved each household £1,800 on their energy bills last year.
Sharon Graham, Unite general secretary, said taking energy into public ownership would end the scandal of energy profiteering and burgeoning household debt.
“There is growing anger about profiteering by Big Energy,” said Graham.
“The UK’s energy network is not fit for purpose. Taking energy into public ownership would end the scandal of energy company profiteering and burgeoning household debt.”
“These corporate executives need to know demands for nationalisation are growing.”
The report by Unite calculated that it would only take two years to make back the £90.3 billion cost of renationalising the UK’s energy supply.
The union also argued that household energy bills have been one of the biggest contributors to high inflation, with the ability to freeze those bills meaning inflation would be at least 4.1% lower.
Executive Director of the campaign group Debt Justice, Heidi Chow, commented that energy privatisation has pushed millions in the UK into record debt.
“Privatised energy has failed us spectacularly, pushing millions of households into record energy debt,” Said Chow.
“We need to pause energy debt enforcement during the cost of living crisis, write down unpayable debt and reform the energy system so that everyone has access to affordable energy.”
Over 16,000 people have signed a petition by Debt Justice calling on the government to urgently act to bring down household energy bills and help families out of debt.
The ‘cost of Greed’ protest is taking place today, Tuesday 20 June, between 2pm-4pm at The Business Design Centre, London, N10QH.
Hannah Davenport is trade union reporter at Left Foot Forward
(Photo credit: Flickr / Creative Commons)
Left Foot Forward’s trade union reporting is supported by the Barry Amiel and Norman Melburn Trust
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