Good morning. Feeling chilly? Well, don’t touch the thermostat. Soaring energy prices have been at the forefront of everyone’s mind in recent months: eye-watering bills, inflation, and a rise in national insurance have all compounded to create what has been described as the sharpest drop in living standards in decades.
But as British consumers feel the squeeze, energy giant BP yesterday reported soaring underlying profits of $6.2bn (£4.9bn) – more than doubling last year’s $2.6bn. The story features on the front pages of the Guardian and the Mirror. It’s the kind of announcement that feels precision engineered to drive you up the wall – and it’s re-energised the debate around a windfall tax on energy companies – something the Labour party has been calling for.
