Sherwood MP Mark Spencer claimed that energy companies are making "very huge margins at this moment in time" as the controversy around rising energy bills continues. Yet, the Commons Leader acknowledged there are “huge challenges coming for people” on their bills during the autumn and winter, adding on LBC: “We need those energy companies working with us to try and solve some of those challenges if at all possible.”
Challenged on what the companies should be doing, Mr Spencer said this was a matter for Chancellor Nadhim Zahawi and Business Secretary Kwasi Kwarteng to raise with them at their meeting on Thursday, August 11. He added: “They’re making very huge margins at this moment in time and I think they ought to be able to assist people and try and suppress those bills as much as physically possible, but that’s a conversation for them to have directly with the Chancellor and Business Secretary.”
Mr Spencer, asked if he agreed the country is in a crisis on the scale of the pandemic, told BBC Breakfast: “I agree it’s a huge challenge, it’s a huge global challenge that we all face, no-one could control – apart from Vladimir Putin – what could happen to global energy markets, and I think it is something the Government has to and is responding to.”
Read more: Energy bills will be more than £5,000 a year by April, says latest forecast
The MP's comments come after experts forecast that the cap on energy bills could top a breathtaking £5,000 next year. Experts said that at Wednesday’s energy prices they expect that regulator Ofgem could be forced to set the cap at £5,038 per year for the average household in the three months beginning next April.
It is more than £200 higher than previous forecasts, which were already grim, and heaps extra pressure on households across Britain. Auxilione, an energy consultancy, also predicted that bills would reach £4,467 in January.
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