Energy rip-off

ONCE AGAIN the 'big six' UK energy companies have stuck two fingers up to demands that they reduce the prices charged to consumers.

Ofgem, the toothless energy market regulator, pitifully asked the big six to reduce tariffs in the light of dramatic falls in wholesale energy costs.

Ofgem calculates that lower energy costs will ramp up the big six's profits on each duel-fuel customer by Ł60 this year.

This is on top of similar profiteering by the energy supply companies over the last few years.

As usual, the energy giants say they are 'victims of market conditions' - despite themselves having sizeable stakes in energy production.

Ofgem bleats that it lacks powers to cap prices but the pro-big business Labour government refuses to give them these powers, or to contemplate a windfall tax on company profits, let alone nationalise the big six.

Donate to the Socialist Party

Finance appeal

The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.

The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.

The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.

The Socialist Party's material is more vital than ever, so we can continue to report from workers who are fighting for better health and safety measures, against layoffs, for adequate staffing levels, etc.
When the health crisis subsides, we must be ready for the stormy events ahead and the need to arm workers' movements with a socialist programme - one which puts the health and needs of humanity before the profits of a few.

Inevitably, during the crisis we have not been able to sell the Socialist and raise funds in the ways we normally would.

We therefore urgently appeal to all our viewers to click here to donate to our Fighting Fund.