British Gas Made Even More Profit Because We Used More Gas...

Mr Jones

Mr Jones

Mr Jones

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BBC News said:
British Gas has said its profits have risen because a colder 2012 meant people used more gas.

It reported profits from residential energy supply of £606m for 2012, up 11% from the previous year. It said gas consumption had been up 12%.

Profits were up 16% to £312m at its residential services unit, which covers services such as repairing boilers.

Centrica, which owns British Gas, reported an adjusted operating profit of £2.7bn for 2012, up 14% from 2011
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http://www.bbc.co.uk/news/business-21598504

their logic is 12% more gas use gave them this profit, despite making only £50 profit per house hold.

So with that logic, the 6% rise they've made to household bills last November was to pay more out to shareholders in the coming years?

BBC News said:
Centrica's dividends to shareholders have risen 6% and the company is also returning £500m to them.
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No wonder people moan for it to be nationalised - which it'll never happen, and I am worried by that prospect, just look at the government, would you trust them in handling utility corp?

Personally I think most utility companies are still living in the old age of providing just gas and electric. These are going to rise and fall depending on world trades, it should be added value services they should focus on to shift customers over to them rather than just upping bills, whilst lining their shareholders pocket - at least that way consumers will feel they're getting value.
 
The only added value you will get to see is an increase on your bill for the foreseeable future. Unless the government steps in limit prices there nothing you can do about it.
 
Mr Jones said:
http://www.bbc.co.uk/news/business-21598504

their logic is 12% more gas use gave them this profit, despite making only £50 profit per house hold.

So with that logic, the 6% rise they've made to household bills last November was to pay more out to shareholders in the coming years?



No wonder people moan for it to be nationalised - which it'll never happen, and I am worried by that prospect, just look at the government, would you trust them in handling utility corp?

Personally I think most utility companies are still living in the old age of providing just gas and electric. These are going to rise and fall depending on world trades, it should be added value services they should focus on to shift customers over to them rather than just upping bills, whilst lining their shareholders pocket - at least that way consumers will feel they're getting value.
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Don't forget that most of Centrica's profit doesn't come from British Gas but it's upstream oil & gas business.
 
It's not surprising, they put the gas prices again last year, in time for winter.

You either suck it up and pay, or freeze to death. Cruel world we live in.
 
JonJ678 said:
They're a private company. They're supposed to be liming the shareholder's pockets - that's the whole point.
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This.

If we don't want the prices to keep going up we need to either hurry up & find better alternative energy solutions or renationalise the industry & subsides energy bills via the tax-payer.

I'm not sure what people expected from privatisation.
 
and yet the government is going to let them charge us more for investment in energy. Well im sorry if they want investment in green energy the fat cat energy companies can use some of the massive profits they have been making out of us for years.

Privatising electric, gas and water was the most retarded thing the Tories ever did.
 
We really need them to be capped and fast or the upward trend will continue.
Either that or somethign like allowing us to pay gas/electric direct from our wages pre tax like all the other required bits n bobs.
 
So, if you use more of their product, they make more of a profit.. Who would have thought that!? We should tell someone in Govt. about this! This could solve all the financial problems not only here but Worldwide!
 
elmarko said:
This.

If we don't want the prices to keep going up we need to either hurry up & find better alternative energy solutions or renationalise the industry & subsides energy bills via the tax-payer.

I'm not sure what people expected from privatisation.
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the problem is about alternatives is no one wants to invest in them, just look at the idiocy that is shale gas, rather than looking at geothermal or something else they are chasing the last bit of fossil fuel they can so they dont have to invest on new technology.

just like the car industry, to be honest. big business are slow to adapt just look at how the internet's changing music and movies finally.
 
~Divine~Wind~ said:
We really need them to be capped and fast or the upward trend will continue.
Either that or somethign like allowing us to pay gas/electric direct from our wages pre tax like all the other required bits n bobs.
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If you cap their prices, but the wholesale price of gas increases to far what happens? You just let them go bust?
 
I didn't say cap at wholesale prices.
They need some form of proper regulation to the point they aint able to rake in cash for whats an essential.
 
It would make more sense that these companies, and the same goes for rail, were forced to pay for improvements and future projects out of their profits rather than from money from the government.
 
But remember, we live in tough times. And everyone is struggling in this awful recession including large companies such as British Gas. It's such a shame really but we need to knuckle down and struggle on.

As the government keeps telling us, 'We are all in it together'.
 
Morba said:
It would make more sense that these companies, and the same goes for rail, were forced to pay for improvements and future projects out of their profits rather than from money from the government.
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thats the thing though morba, like i said above about the car industry they know fossil fuels will run out eventually but rather than invest in new technologies they look for more ways to find fossil fuel's.

its the joys of a monopoly on energy supply, they know we have no other choices and untill we do they wont rush to invest in new energy models while they can carry on selling us gas.

im sure many will say we have renewable's but lets be honest they only work some of the time, and thanks to labour not pulling their finger out over new nuclear plants we will be stuck with these overly expensive ideas even more.

the green lobbys need to work out we cant live off of solar, wing and tidal yet. so we need nuclear if they cant work that out and our mp's wont learn than we are going to be screwed for many more years to come.
 
~Divine~Wind~ said:
I didn't say cap at wholesale prices.
They need some form of proper regulation to the point they aint able to rake in cash for whats an essential.
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If they can't rake it in where's the incentive for investors? Let alone investment by the company in new technologies and sources of fuel.

Until someone comes along with a better, cheaper source of energy, we just have to suck it up or go cold.
 
GAC said:
thats the thing though morba, like i said above about the car industry they know fossil fuels will run out eventually but rather than invest in new technologies they look for more ways to find fossil fuel's.

its the joys of a monopoly on energy supply, they know we have no other choices and untill we do they wont rush to invest in new energy models while they can carry on selling us gas.

im sure many will say we have renewable's but lets be honest they only work some of the time, and thanks to labour not pulling their finger out over new nuclear plants we will be stuck with these overly expensive ideas even more.

the green lobbys need to work out we cant live off of solar, wing and tidal yet. so we need nuclear if they cant work that out and our mp's wont learn than we are going to be screwed for many more years to come.
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The money should go to a company that is willing to invest in the future then, rather than to a company that could already safeguard their future if they wanted to.
By subsiding major companies on things like this we are just allowing them to take the public for mugs for even longer.
 
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