Ofgem: Pull the plug on profiteers

Why Ofgem is failing and needs to take action

‘Rampant profiteering’: Unite asks Ofgem to cap power distributors’ profits after UK networks rake in £15.8bn, Sharon Graham says they’re holding the public to ransom

The companies responsible for bringing electricity to UK homes have been accused of “rampant profiteering” by a leading union that is calling for the energy regulator to cap their earnings.

Sharon Graham, general secretary of Unite, has written to Ofgem to ask it to clamp down on “excessive” profits generated by regional electricity distribution network operators (DNOs), which raked in £15.8bn in profits last year and have paid out £3.6bn in dividends between 2017 and 2021.

• Ofgem price review reaction: Unite leader blasts failure to rein in energy profiteers - 
  Wednesday 30 November 2022
• Unions and consumer groups criticise regulator for not reducing household electricity bills - The Guardian - Wednesday 30 November 2022
• Ofgem reveals plan for cheaper, cleaner electricity supplies - The i - Wednesday 30 November 2022
• Energy regulator sets new price controls on local power networks amid profiteering claims - Sky News - Wednesday 30 November 2022
• Ofgem has ‘utterly failed to protect the public from a £1.5bn bill demanded by rapacious energy profiteers,’ Unite charges - Morning Star - Wednesday 30 November 2022
• Join the Megaphone action: Write to your MP to back the call for a cap on power distributors’ profits
• Public demand Ofgem take action to clamp down on rampant profiteering by distribution network operators - Monday 28 November 2022
• Read the full story in The Guardian: ‘Rampant profiteering’ – 20 November 2023
• Coverage in the Morning Star:Ofgem told to clamp down on excessive profiteering by energy distributors – 21 November 2022
• Unite release: Unite calls on Ofgem to pull the plug on energy profiteers – 21 November 2022

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