In light of the announcement of BP’s quarterly profits of $8.45bn (£6.9bn), the excessive profits of BP and all the oil super majors must be re-directed by government into low cost, low carbon energy efficiency measures and green energy alternatives.
BP announced its highest record quarterly profit in 14 years while at the same time typical household energy bills have been forecast to hit more than £3,600 a year this winter.
Responding to the profit announcement Harriet Lamb, CEO of Ashden, said:
“BP is the latest in a run of oil super majors declaring unthinkable bonanza profits,
These profits are unsound, unethical and economically disastrous for the country as a whole. They underline why our dependence on fossil fuel giants must be ended. They are benefiting from record-breaking profits while ordinary people face record-breaking and life-destroying energy bills.
“When the average bill is likely to increase to over £3600, a £400 discount won’t even touch the sides of people’s bank accounts. In less than 3 months, a typical energy bill will cost a third of the state pension. But where is the government’s plan? We need a rapid detox from fossil fuels.
“A double-pronged strategy is now needed by government – to take a stand against such massive profiteering and enforce a much bolder windfall tax than was implemented in May that re-directs excess profits into emergency funding for scaling up domestic energy efficiency measures, and training of workers to undertake a UK-wide retrofit revolution in order for people to be less dependent on fossil fuels.”
“If this action is not taken, the government will be guilty of a dereliction of duty. It has a duty of care to support citizens to have decent and affordable living conditions and allowing the fossil fuel companies to enjoy such profits knowing that it will push people into crisis, is plain wrong.”
Ashden, which works with organisations and local authorities on progressing green skills for retrofit, is calling for speedy and focused government support on energy efficiency and domestic decarbonisation measures such as insulation and non-fossil fuel domestic energy solutions such as solar energy and ground source heat pumps, so that people can use less energy in their homes and reduce their bills. It will also help the nation meet its legally binding carbon reduction targets.
Ashden are part of the Warm This Winter campaign – a coalition of UK fuel poverty and environmental organisations calling for immediate government action and preparation plans to deal with the energy crisis.
Organisations leading the way in the UK’s retrofit revolution include:
Carbon Co-Op, which runs retrofit training for building contractors in Greater Manchester as part of its deep retrofit service and provides homeowners with guidance on how to lower their energy use.
Energiesprong which constructs external wall insulation off-site making deep whole house retrofit quicker and more effective, particularly on social housing.
Kensa Group which are the UK’s only manufacturer and installer of ground source heat pumps which provide reliable and efficient heating and cooling alternatives to polluting fossil fuels.