Responding to the announcement that the monopoly National Grid Plc increased its pre-tax profits 20 per cent to £3.7 billion, Unite general secretary Sharon Graham said :
'The profits raked in by National Grid lay bare Britain’s broken energy system. Energy profiteers like National Grid are extracting cash for overseas’ shareholders through ever more expensive bills. They have no competition and no one reining-in their greed.
'It is time our energy infrastructure was brought back into public ownership so that the British people and economy benefit rather than foreign wealth funds. This is a monopoly company, sold off on the, making excess profits that it funnels back to its shareholders.
'The irony that two of the biggest shareholders are the governments of Norway and Abu Dhabi will not be lost on the public who will see this as the complete rip off it is.'
Source: Unite
