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From The Socialist newspaper, 31 July 2008

EDF - taking the rise

FOLLOWING CENTRICA'S huge price increase for its gas customers, yet another energy company - EDF - is ramping up its prices.

EDF's five million customers are facing gas bills 22% higher and electricity bills 17% up, with immediate effect. This will increase an average annual household bill by 204, taking the total bill to 1,211.

These price hikes are despite the wholesale price of oil, to which gas and electricity bills are closely linked, having fallen by 13% in the last few weeks. Moreover, energy giants like EDF have investments in energy production as well as retail sales. Therefore, they are making huge profits as both wholesalers and retailers.

Every other energy utility company will be following Centrica and EDF in ratcheting up their domestic tariffs. However, their blatant profiteering could be stopped overnight if they were renationalised as part of a socialist economic plan. But when it comes to protecting ordinary people's interests or fat cat shareholders, the government will inevitably side with the latter.

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In The Socialist 31 July 2008:

Voters reject Labour: Build a new workers' party

Glasgow East by-election: New Labour's support evaporates


Olympics

The not so 'green' Beijing Olympics


Socialist Party campaigns

Gestures to the low paid are not enough: Fight for a living wage

Feature: End the pay gap now

Whine and dine

EDF - taking the rise

Stop the far-right

'A Workers' MP on a Worker's Wage'

Campaigners keep fighting to save local post offices


Socialist Party review

The Ragged Trousered Philanthropists


Socialist Party workplace news

Passport staff strike

Land registry in third pay walk out

Passport to profits

In brief


 

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