Unite the Union

Unite the Union

January 18, 2008 07:07 ET

Unite Calls for Windfall Tax on Energy Companies

LONDON, UNITED KINGDOM--(Marketwire - Jan. 18, 2008) - Unite the union, Britain's biggest union has today called for a windfall tax on energy companies and has branded their recent price hikes as excessive.

The union is warning that the latest round of price increases will damage British industry and hit the vulnerable, old and poor. According to Ofgem, power companies are in line for a Pounds Sterling 9 billion windfall from the European Emissions Trading Scheme. Coupled with the significant profits energy companies are making the union believes there is a strong case for the Treasury to levy a windfall tax to help the vulnerable struggling to pay their energy bills.

The union is also calling for urgent action to build clean coal fired power stations as well as new nuclear power stations in order to become less dependent on imported oil and gas.

Unite National Officer, Dougie Rooney, says:

"There is a strong case for the government to levy a windfall tax on energy companies. By any standards these recent increases are excessive. These hikes will damage British industry and hit the vulnerable, old and poor.

"We have a situation where companies owned overseas are imposing massive price hikes on UK consumers and British industry. This is further evidence that the UK needs urgent action to build clean coal fired power stations as well new nuclear power stations in order to become less dependent on imported oil and gas."

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