Energy costs

That this House thinks it is unacceptable that the average annual household energy bill is going up by over £200 on July 1st; believes that the Government has failed to protect people from another significant spike in the cost of the basics; notes that many are already struggling to make ends meet, with millions of households living in fuel poverty; further notes that with this increase energy bills will be 79% higher than before the energy crisis began in 2020; recognises that in this time energy companies have recorded record breaking profits, with just five North Sea oil and gas companies boosting their share value by £73 billion in the first month after the US and Israel’s initial strikes on Iran; regrets that almost a quarter of the average energy bill is now extracted as private profit; believes that energy companies should not be profiteering whilst ordinary people can't heat their homes; and demands the Government take steps before the next price cap is announced to reduce bills, including removing all policy costs from electricity bills and funding them via progressive general taxation, continuing to scale up renewables, fully decoupling the price of gas from electricity, and ending rampant profiteering.