CAMPAIGNERS called on the government today to channel bumper windfall tax revenues, generated by oil and gas price hikes, into fighting fuel poverty.

The End Fuel Poverty Coalition calculated that for every month that energy prices remain at levels seen on March 18, the government could see receipts from the windfall tax on North Sea profiteering soar to £200 million a month.

Combined with increased offshore corporation tax revenues from oil and gas giants who — while three million households have been plunged into fuel poverty — have raked in eye-watering profits of £127 billion since 2020, the coalition estimated the government could net £427m a month or £5.1bn a year.

End Fuel Poverty Coalition co-ordinator Simon Francis said: “Whenever oil and gas prices spike, energy industry profits rise while households are left to face higher bills, deeper debt and impossible choices.

“It is only fair that these windfall profits help households who will suffer as a result. Our message to ministers is simple. 

“Help the hardest-hit households first and be ready to move fast if this crisis gets worse. 

“That means urgent support for off-gas homes and heat network customers, targeted bill cuts if prices rise again, action on energy debt and stronger winter protection.

“It would protect people now while longer-term reforms bring bills down for good.”

Fresh from recent polling showing support across the political spectrum in Scotland for the windfall tax, Energy Action Scotland’s Frazer Scott commented: “Companies continue to make excessive profits at the expense of people.

“People who cannot heat their homes to a safe level and are burdened by £5.5bn of unrepayable domestic energy debt.

“Until there is reform that puts people at the heart of the energy system it is right for big business to put its fair share back to help those that need it most.”

Fuel Poverty Action spokesman Jonathan Bean said: “Instead of the £300 bill saving the government promised us, we now face a £300 bill jump from July. 

“The government failed to fix the market after the 2022 crisis, so we’ve been left vulnerable to price spikes. 

“The Prime Minister needs to get a grip on the obscene profiteering from war, close windfall tax loopholes, and bring down our bills.”

The Department for Energy Security and Net Zero was contacted for comment.