British energy sector once again accused of greed

Large British utilities continue to make too much money and leave consumers with unnecessarily high bills, according to critics.

Photo: SSE

The criticism has carried on for years but seemingly has little or no effect on the large, British energy companies. At any rate, earnings in the sector are still much higher than they should be, according to a new analysis from think tank The Energy & Climate Intelligence Unit, reports the Financial Times.

The think tank, which is funded by sources including British parliament and several insurance companies, states that the average profit margin after taxes was 32 percent for electricity companies in the period 2010 to 2015.

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