Sinn Féin MLA Caoimhe Archibald has branded reports that energy producers and generators are set to make an eye-watering £170 billion in profits over two years an ‘absolute scandal’ and called for action to stop the rip-off.

The party’s economic spokesperson said:

“Reports that big energy generators and producers will make £170 billion in additional profits over the next two years is outrageous and an absolute scandal.

“Big energy corporations are walking away with eye-watering profits on the back of hiking the bills of workers and families, forcing many to choose between heating and eating. 

“And the Tory government is letting them get away with it by failing to take action to stop the energy rip-off and offering these fossil fuel companies extra tax breaks.

“This needs to change, these companies must be subject to a windfall tax which actually cuts profits, and the British government should also cut taxes on fuel and energy to bring down people’s bills.

“Ordinary people are facing a dire winter of price hikes and news that the companies who are putting their bills up are making even more money is a slap in the face.

“We need an Executive up and running now to deal with the cost-of-living emergency and support workers and families. The DUP needs to end its boycott and get back to work.”