ERA warns about windfall tax on energy firms

Fix energy prices until 30th September 2017

Looking to switch your business energy supplier? Click here

Use our OFGEM accredited comparison tool to compare the whole market today.

The Energy Retail Association (ERA) has said that a potential windfall tax on energy firms could seriously harm future electricity and gas generation in the UK.

A number of MPs have recently called on the government demanding "aggressive action" if energy firms do not reduce prices in line with drops in the wholesale costs of oil.

They have called for an example similar to the announcement of a windfall tax suggested by US president-elect Barack Obama

Peter Jenkins, head of media relations and communications at the ERA, said there is a need for investment in new energy generation.

He added: "This is an industry that keeps Great Britain going; we keep the lights on, we heat your homes, your children's schools and power your hospitals.

"This is not the time to be contemplating further taxation on one of Great Britain's most essential industries."

The business and enterprise committee recently issued a report stating that energy price drops should be introduced to help vulnerable households survive through the winter months., the Daily Mail reported.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

Found this page interesting?

Help spread the word and share this page with your friends and family on your social networks.