The energy industry has claimed that the public would bear the brunt of a windfall tax, giving warning that there was serious risk of bills going up.
Half of Britain's energy companies have already raised their bills twice this year and the remainder are set to follow suit before the autumn, taking average household bills just shy of £1,500 a year.
The industry said that a windfall tax would lead to more inflation-busting increases, with companies struggling to find money to invest in ageing power stations and networks.
“If you take money out of the companies and they have to find it somewhere else, then their investment costs will go up and customers will have to bear the brunt of that,” said David Porter, chief executive of the Association of Electricity Producers. “There is a serious risk that bills would go up.”
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