The RWE npower CEO has said Government should fix its policy rather than make a scapegoat of energy businesses.
Volker Beckers said: “It is easy to deflect attention away from the legislative impact on consumer bills by pointing the finger at the profits of energy companies. The profit margins made by energy companies are not unreasonable- the recently leaked analysis from the Prime Minister’s office clearly shows that our profits are around half that expected from non-energy FTSE100 companies.”
In a speech to the Liberal Democrat Conference Chris Huhne said the Big Six were guilty of “predatory pricing. RWE say that over the last three years, it has invested over £3 into the UK for every £1 it has made in profit.
Mr Beckers said the Big Six wanted clearer direction for investment: “Now more than ever industry needs a clear, coordinated, cohesive energy policy; a firm base from where long term investment decisions of more than £200 Billion can be made. Instead, energy policy continues to become a political football.”
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