Scottish politicians have renewed calls for a "proper" windfall tax on energy companies after British Gas owner Centrica announced record profits for 2022.
Energy companies have benefited from increased oil and gas prices caused by the war in Ukraine. BP announced that it made £23billion in profit last year, while Shell made £33billion. These were the highest profits that either company had ever recorded. The campaign group End Fuel Poverty Coalition said in December that ending the loophole would have generated at least £22bn in additional revenue.
“In a matter of weeks, the Government plans to allow the energy price cap to rise to £3,000. Labour would use a proper windfall tax to stop prices going up. He said: "These profits are absolutely obscene. They show a staggering level of profiteering and greed, and really underline how fatally broken our energy market is.
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