“Keep the energy price cap and tax energy companies’ excess profits,” says UK public

25th Nov 2022


Ahead of the Chancellor’s mini-budget on Thursday, exclusive polling for one of the UK’s leading energy trade bodies, the Energy and Utilities Alliance (EUA), has confirmed public sentiment is clearly in favour of protecting people against high prices by keeping the Energy Price Cap and applying a windfall tax on the excessive profits of energy companies.

In a survey of 2000 Brits conducted this week, 78% supported keeping the price cap on energy bills in place, with only 13% believing the market should be allowed to determine the price.

The same research also revealed massive support for a windfall tax on excessive profits of energy producers, with eight in 10 people (79%) supporting this policy compared to under 5% who were opposed.

The survey also asked people whom they most trusted to give advice on reducing energy bills, with five times more people saying they trusted consumer advice organisations such as Money Saving Expert and Citizens Advice, than they do the Government (56% vs. 12%).

Commenting on these findings, Mike Foster CEO of the EUA said:

“Energy bills are really hurting consumers now and they fear what might be around the corner, especially now that the cold weather has arrived. The British public clearly like the support the Energy Price Cap is giving them; they want it to continue. Frankly, they can’t afford for it to be taken away.”

“The energy producers, who are raking in the cash as a consequence of Putin’s aggression, are seen as part of the problem. A windfall tax on their excessive profits has clear public support and this should encourage the Chancellor to raid their bank balances and not those of hard-working families.”

“But this survey also sends a signal to those calling for the government to take the lead on giving energy saving advice. The public doesn’t trust them. That may be unfair, but we need to work with what we have and clearly, consumer advice organisations are the best tool to deliver advice if we want it to have any impact. By all means let the Government pay, but let others deliver the message.”

“Behind these findings is the desire to bring about a longer-term solution with affordable energy bills, with energy produced here at home and it being good for the environment too. Hydrogen is the closest thing we have to a silver bullet that enables all those three things to happen.”