THE GREAT ENERGY RIP-OFF
Plaid Cymru - The Party of Wales
Date: Wednesday 21st May 2008 - for immediate release
Plaid Cymru, The Party of Wales, Westminster Parliamentary Candidate for Monmouth Constituency, Jonathan T Clark has backed calls for reform of the energy supply market as evidence presented to the Parliamentary Business and Enterprise Select Committee Inquiry into energy markets suggests that there is more collusion than competition in the energy supply market and that questionable business practices hit poorer customers hardest.
Jonathan T Clark said:
“We have an effective, if not virtual monopoly on energy supply in the UK as the number of energy supply companies has fallen to six in the last ten years, and the fact that there is less that £30 differential between all of the energy supply companies, which works out at no more than a few pence a week difference in bills, brings little benefit to energy customers. Energy companies have been quick to blame rising oil and gas prices, and exceptionally quick to rake in the profits, as the average annual dual fuel bill has risen from £662 a year in 2005 to 1,048 in 2007.”
Jonathan continued:
“With little real choice between energy supply company prices, the customer loses out, with some 4.8 million customers effectively shut out of the market place with pre-payment meters, debt problems, lack of bank accounts and a lack of access to the internet. The situation is compounded by the fact that the top six energy supply companies own 55% of the power generating market, with further anticipated buyouts and mergers this figure may rise to 75%, something that will bring even less comfort to consumers and customers.”
Jonathan T Clark concluded:
“There is a need to unify the power generation and supply companies into a single entity, preferably run on a not for profit basis, as it is sheer irresponsibility for Government to leave the energy sector effectively unregulated as the private energy companies have proved themselves almost entirely incapable of making any long term strategic decisions that are necessary to provide us with safe and secure energy. UK Energy experts have for a number of years, been consistently warning of a serious future shortfall in Britain’s energy supplies, as a result of the collapse of the North Sea gas reserves, increasingly tough regulations on carbon emissions from ageing coal-fired power plants and the planned decommissioning of 14 of 15 nuclear generating stations by 2025, there is a real and pressing need for action to avoid a potentially damaging gap between energy supply and energy usage.”
Diwedd / Ends
Notes to Editors
Energy Watch UK
Parliamentary Business and Enterprise Committee
http://www.parliament.uk/parliamentary_committees/berr.cfm
Press release Monmouth / Mynwy No: 046 21/05/2008
Published and promoted by and on behalf of Jonathan T Clark, Parliamentary candidate for Plaid Cymru - The Party of Wales for Monmouth Constituency
Published by Huw Evans, Llanelen, Abergavenny, Monmouthshire
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