A city MP is calling for an end to the energy postcode lottery which sees household paying up to £139 more for their energy bills based on where they live.
Energy network companies that cause this unfairness made £7.5 billion in profits last year, with margins of up to 39%.
Today local MP Stephen Morgan has called for an end the energy postcode lottery and cut energy network costs for people in Portsmouth.
New research published by consumer collective ‘The Big Deal’ found some households paying as much as £139 more than other households despite being with the same energy company, on the same deal and using the same amount of gas and electricity. This occurs while the companies responsible for the difference make £7.5 billion in profits.
The report proposes ending the postcode lottery and reducing every household’s network costs down to the lowest possible level. This will see bill cuts for millions of consumers.
The cost of this reduction is £643 million, which is just a tenth of the network companies profits. These companies can afford to pay for this change, while taxpayers see only cuts to their bills.
Stephen Morgan MP said:
“I know from my post bag that energy bills are a major concern for people in Portsmouth, that’s why I am pleased to support The Big Deal’s campaign to end the energy postcode lottery.
No one should pay more for their energy based simply on where in the country they live, instead the network companies should sacrifice just a tenth of their profits to cut bills for all homes.”