Energy cost increases slammed by Cost of Living Crisis Campaign

The Cost of Living Crisis Campaign has warned of electricity price increases coming into effect from the 1st July. 

This is despite tariffs actually falling and the wholesale price of energy on international markets dropping significantly. 

The removal of the British Government Energy Price Guarantee will see prices here rise by around £50 per year for a standard domestic user according to the Consumer Council. 

Speaking to Derry Now, Cost of Living Crisis Campaign spokesperson Ellen Moore said: “The increase was due to greed and government policy.

"It's clear that corporate profiteering is continuing. Government should at the very least keep the energy cap in place until prices have dropped significantly more. 

“We are still in the midst of a severe cost of living crisis. Beyond the spin, prices are still double what they were a year ago. 

“Energy companies are making record profits, yet no serious attempt is being made by government to properly tax them or regulate them.”

She added: “The Cost of Living Crisis Campaign call for aggressive windfall taxes on all the major energy companies and for stringent price regulation. Bulging tax receipts can be used to tackle inequality. 

“When companies like BP can declare profits of £5 billion for the first quarter of 2023 yet pensioners are scared to use their cookers or boil a kettle, it's clear the system is broken."