The heads of the biggest gas and electricity companies are being ordered by the Government to hand over part of their multi-billion pound profits - or face a new windfall tax.
The Sunday Telegraph has learnt the chief executives of the utility giants have been summoned to Downing Street and given a dressing-down over the soaring sums being made from millions of customers.
They are being told that, unless they agree to subsidise a new nationwide "fuel poverty" scheme aimed at the 4.5 million poorest households, a levy will be put on their profits. It is understood that the fuel poverty programme is to be unveiled by Alistair Darling, the Chancellor, as part of the Budget on March 12.
The Government has moved to curtail what is increasingly seen as "excessive profiteering" by the utilities industry, with customers having to pay soaring household gas and electricity bills.
Read More...Telegraph
Electricity companies face a new windfall tax.
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