Lib Dems demand windfall tax on fossil fuel companies to support households this winter
Liberal Democrat Leader and former Energy Secretary Ed Davey has called for a windfall tax on gas producers profiting from record high prices, to help pay for support to struggling households and businesses this winter. Gas prices have risen from 56p/therm during the first half of the year to 150p/therm and are now reaching 300p/therm. Over the past five years natural gas prices had never reached 100p/therm. Serica Energy, a North Sea gas company responsible for 5% of the UK supply, have already stated they expect “significant returns” due to the increase. Share prices in Sercia have surged from 156p per share at the end of August, to 232p on Wednesday. Meanwhile, households and businesses are struggling with higher bills. The energy regulator, Ofgem, increased the energy price cap by…