Gas and electricity bosses told 'give back profits'
By Mark Kleinman, City Editor
The Sunday Telegraph
The heads of the biggest gas and electricity companies are being ordered by the Government to hand over part of their multi-billion pound profits - or face a new windfall tax.
The Sunday Telegraph has learnt the chief executives of the utility giants have been summoned to Downing Street and given a dressing-down over the soaring sums being made from millions of customers.
Charities, including Help the Aged, have expressed their concern at rising fuel bills
They are being told that, unless they agree to subsidise a new nationwide "fuel poverty" scheme aimed at the 4.5 million poorest households, a levy will be put on their profits. It is understood that the fuel poverty programme is to be unveiled by Alistair Darling, the Chancellor, as part of the Budget on March 12. The Government has moved to curtail what is increasingly seen as "excessive profiteering" by the utilities industry, with customers having to pay soaring household gas and electricity bills.
Campaigners have demanded action against the big utilities, with the union Unison and the National Right to Fuel Campaign describing their profits as "obscene".
By Mark Kleinman, City Editor
The Sunday Telegraph
The heads of the biggest gas and electricity companies are being ordered by the Government to hand over part of their multi-billion pound profits - or face a new windfall tax.
The Sunday Telegraph has learnt the chief executives of the utility giants have been summoned to Downing Street and given a dressing-down over the soaring sums being made from millions of customers.
Charities, including Help the Aged, have expressed their concern at rising fuel bills
They are being told that, unless they agree to subsidise a new nationwide "fuel poverty" scheme aimed at the 4.5 million poorest households, a levy will be put on their profits. It is understood that the fuel poverty programme is to be unveiled by Alistair Darling, the Chancellor, as part of the Budget on March 12. The Government has moved to curtail what is increasingly seen as "excessive profiteering" by the utilities industry, with customers having to pay soaring household gas and electricity bills.
Campaigners have demanded action against the big utilities, with the union Unison and the National Right to Fuel Campaign describing their profits as "obscene".
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