Sign in
☰
People MPsHouse of LordsGovernmentOppositionPartiesCommittees Votes Commons votesLords votesVotes by issueTopicsStats & rankingsParliament in numbers Legislation BillsEarly day motionsPetitions Elections Election resultsConstituenciesWho is my MP? Scotland OverviewMSPsScottish GovernmentVotesBillsMotionsCommitteesConstituencies & regionsElections Search Sign in

Motion · S6M-05566 · 29 Jul 2022

Huge Energy Company Profits Recorded

Lodged by Pauline McNeill (Scottish Labour) Standard Motion 19 supporters

The motion

That the Parliament is concerned that energy companies have reportedly posted record profits during the first half of 2022, despite the ongoing cost of living crisis; understands that Centrica, which owns British Gas, has reported operating profits of £1.3 billion, its highest in 10 years, and that Shell posted record results with an $11.5 billion second-quarter profit, reportedly beating the huge profits it recorded only three months ago; further understands that the UK Government’s “energy profits levy” did not come into force until July, and that such record profits and pay-outs to shareholders will therefore be unaffected; is further concerned about reports of a 77% rise in energy bills predicted to hit households in October, with a subsequent rise forecast in January 2023; understands that, by October, the average annual household bill will reach £3,500, and agrees with the financial journalist and broadcaster Martin Lewis’s reported warning to the UK Government to urgently intervene on surging gas prices as they will have a "frankly catastrophic" impact on millions of people in the UK later this year.

Supporters (19)

Source: the Scottish Parliament motions and amendments record.