energy prices rise on the way.

Jono8 said:
I'm sure all the large Natural Gas and Oil companies will be posting record profits as well.....
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This is what I don't understand. The news comes out about a price rise, people whinge, the energy companies look sad and say that they held the price rise off as long as possible, many good men died in its defence etc and then ofgen look into it and conclude that they are a bit naughty but nothing amis.

You posted over a billion in profit! That leaves a little wiggle room to absorb price rises. Regulatory bodies seem to be less use than a chocolate teapot these days.
 
Higher prices, bigger bonuses for the shareholders this time next year.

Nothing changes. Energy companies have always been extortionate with pricing. It's a luxury they have - you can't simply say "Oh I won't use it then".. because if you do..yeh GL with that.
 
stoofa said:
We've now gone with Ovo Energy.
A relatively new company, they are a much greener company.
We haven't gone "full out green" and gone for the service which uses 100% renewable energy.
However their other tarrif uses 15% renewable which is still around 3x more than most of the other operators.
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Hmm sadly with these guys our annual spend goes up by £391.
 
fez said:
Regulatory bodies seem to be less use than a chocolate teapot these days.
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Different industry but same situation, I recall there being talk of dissolving the FSA a few months back, because they are just a toothless money pit of red tape... they say something is wrong, the industry makes a joint statement saying sorry they are doing their best, and then its business as usual.
 
That's enough of this crap now. Record price increases on just about everything but peoples incomes are more or less stagnant. It's about time our useless government stepped in and did something about these parasites!!
 
OldCoals said:
Headline profits are one thing, I think I am right in saying Centrica make roughly £60 per customer, per year profit.
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yep this is the important figure, these companies are selling to millions of people and hundreds of millions of units. If you say they are making £60 a year profit per customer, or 0.2p per unit profit, then it sounds pretty good.
government dithering for to many years,no energy security and it's only goign to get worse, as they still cant decide what to do.
 
fez said:
This is what I don't understand. The news comes out about a price rise, people whinge, the energy companies look sad and say that they held the price rise off as long as possible, many good men died in its defence etc and then ofgen look into it and conclude that they are a bit naughty but nothing amis.

You posted over a billion in profit! That leaves a little wiggle room to absorb price rises. Regulatory bodies seem to be less use than a chocolate teapot these days.
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Wiggle room? Why should they

They are a private company who are out to make money, not give away energy for free.

You do always have a choice to not use electric and find your own way of powering your home.

In NI we are still paying more than any of you in England.

I think at last check we are paying around 16-18p a unit.
 
teaboy5 said:
Wiggle room? Why should they

They are a private company who are out to make money, not give away energy for free.

You do always have a choice to not use electric and find your own way of powering your home.

In NI we are still paying more than any of you in England.

I think at last check we are paying around 16-18p a unit.
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:confused:
 
teaboy5 said:
Wiggle room? Why should they

They are a private company who are out to make money, not give away energy for free.
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Because they are essentially a cartel selling a product that every one must buy - its a bit different to say buying a handbag, if you cant afford a Louis Vuitton, then you can buy one for £30 from m&s, or even £5 from the market that will still perform its function perfectly well. If their product is deemed to expensive by the market then they will not sell anything.
With things like banks and energy providers there is no choice, we all have to buy handbags and we have to buy Louis Vuitton.

Much more regulation is needed, they obviously cant be allowed to regulate themselves.
 
People have to understand also that the electricity companies still have to buy and transport coal and gas from around the world to produce the electricity in the first place.

Its not cheap to run a power station on gas or coal and the wholesale prices are rising.

Wind is not viable, I see the numbers every day and its just not gonna work. That's a different topic however
 
gizmoy2k said:
People have to understand also that the electricity companies still have to buy and transport coal and gas from around the world to produce the electricity in the first place.

Its not cheap to run a power station on gas or coal and the wholesale prices are rising.
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and make £2.1bn profit.. must be tough :)

Scottish Power made £1.3bn profit in 2009/10. If you look at Southern Energy, they made £2.1bn.
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I'm more concerned for the elderly really. They get kicked and battered around enough. We can sacrifice a few luxuries to sustain essential living but it's not always the case for pensioners.
 
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