‘Rampant profiteering’: Unite asks Ofgem to cap power distributors’ profits

Exclusive: after UK networks rake in 15.8bn, Sharon Graham says they are holding the public to ransom

The companies responsible for bringing electricity to UK homes have been accused of rampant profiteering" by a leading union that is calling for the energy regulator to cap their earnings.

Sharon Graham, general secretary of Unite, has written to Ofgem to ask it to clamp down on excessive" profits generated by regional electricity distribution network operators (DNOs), which raked in 15.8bn in profits last year and have paid out 3.6bn in dividends between 2017 and 2021.