THE latest report on energy prices from the House of Commons library confirms the extent to which Britain’s energy market is a thieves’ kitchen.

Domestic gas and electricity prices have risen by almost 34 and 24 per cent respectively over the past three years alone. 

Of the world’s developed capitalist countries, only the Irish Republic has witnessed a steeper increase in retail electricity prices. 

When it comes to gas, only four countries have outstripped the rises in Britain.

In real terms, taking changing incomes into account, the average household fuel bill has increased by 21 per cent. 

For millions of workers, the unemployed, pensioners, students and people with disabilities whose incomes have fallen substantially in value, the real price rise runs at 30 per cent or more.

Of course, the “big six” energy suppliers will trot out their familiar litany of excuses for such rampant profiteering. 

We will be told that higher production and wholesale prices have forced them to pass on the additional costs to end consumers. Or that “green taxes” have compelled them to act likewise. Or that bigger profits are required in order to finance extra investment.

No matter that these lies wither and die when exposed to the facts. For instance, wholesale energy price rises have accounted for around 60 per cent of the retail increases — but all of the big six are also major producers of energy, thus profiting from the higher wholesale prices they charge themselves and each other. 

Furthermore, they manipulate the prices of other transactions between the different arms of their business empires in order to massage profit and tax liability figures.

Thus Npower avoided paying any corporation tax in Britain for three years by funding investment with loans from parent company RWE in Germany via one of its “shell” companies in Malta, offsetting the interest against taxable profits. 

This is how the companies finance much of their investment, forcing consumers to pay rather than raising the money from new or existing shareholders.

Not that the big six investment record is impressive — far from it in the field of gas storage, for instance. 

Britain has storage capacity for just 4 per cent of annual consumption, in contrast to France (29), Germany (20) or Italy (17). 

If home production or imports ceased, our gas supplies would last little more than a fortnight.

Although government taxation to finance “green” energy measures accounts for less than 10 per cent of retail price rises, this was reduced at the start of the year so the corporations could cut prices temporarily with no loss of profits — but at the cost of Britain’s non-nuclear renewable and energy saving programmes.

As far as our privatised energy market is concerned, everything is rigged in favour of capitalist profit. 

Ramping up prices, dodging taxes and holding down investment are all intended to maximise dividend payouts to shareholders. 

In 2012, for example, big six dividend payments amounted to more than three-quarters of their combined wholesale and retail profits of £3 billion.

That is why all the usual blather about enhancing competition, tightening the regulation regime and even freezing prices is little more than hot air. 

Gas and electricity should be taken out of the hands of the profiteers and returned to public ownership.

We managed and modernised Britain’s energy sector without the privatisation parasites for decades — who needs them now?