Energy Prices (Strictly NO referrals!)

Lyle44 said:
Spot the guy in the street that quotes 'profit bad man'
Assume you have no pension investments?
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Government pays my pension when I’m 60 fella.
excessive profits in the middle of a cost of living crisis is bad TBF, I bet your one of those that pays next to nothing in tax because of your expensive accountant, so have no care for those that might be struggling
 
woppy101 said:
Government pays my pension when I’m 60 fella.
excessive profits in the middle of a cost of living crisis is bad TBF, I bet your one of those that pays next to nothing in tax because of your expensive accountant, so have no care for those that might be struggling
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£120 a week? Good luck with that
 
woppy101 said:
Government pays my pension when I’m 60 fella.
excessive profits in the middle of a cost of living crisis is bad TBF, I bet your one of those that pays next to nothing in tax because of your expensive accountant, so have no care for those that might be struggling
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Lucky you, I don't even expect to get a state pension at 67. No, I work, now for an average UK wage been a long time below that, so know what it's like to have to cut back, buy basics, not splash out on luxury 4090s
Don't get me wrong, profiteering has driven inflation, yet it appears to be pick on BG. Perhaps people would like to direct their ire towards the party that have been in power for the last 13 years?
 
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Lyle44 said:
Lucky you, I don't even expect to get a state pension at 67. No, I work, now for an average UK wage been a long time below that, so know what it's like to have to cut back, buy basics, not splash out on luxury 4090s
Don't get me wrong, profiteering has driven inflation, yet it appears to be pick on BG. Perhaps people would like to direct their ire towards the party that have been in power for the last 13 years?
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The gas price wasn't set by centrica though, so while not perfect you'd be naive to expect them to sell below market prices.
 
Trifid said:
A better analogy would be, people pay £30 for broadband a month and then £11 for netflix.
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I think the attempt to use netflix as some kind of analogy for saying whats happening to SC just didnt work.

Its hard to find an analogy, as most things are a fixed all you can eat fee or a pay as you use fee.

Not to mention many dont even have netflix or use shared accounts and combined SC for gas/electric is about 2-4x the cost of netflix.
 
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woppy101 said:
excessive profits in the middle of a cost of living crisis is bad TBF, I bet your one of those that pays next to nothing in tax because of your expensive accountant, so have no care for those that might be struggling
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Define excessive profits.

This is not a defence of BG but I prefer not to let emotion get in the way of facts. They made £90 per customer and if you believe Ofgem, an average sale of ~£2500. If my calculator serves me correctly, that is a profit margin of 3.6% once everything is said and done. Apple probably make more than £90 on a £250 set of headphones.

So back to the question - do you actually define excessive profits as 3.6%?

As for the tax, there is no evidence or even a suggestion that they have committed tax evasion, therefore they are paying what is due per what the law tells them is due. I'd suggest your anger may be misplaced if you have a problem with them paying what is legally due - perhaps it may be best directed to the person who makes the rules rather than the people who follow them.
 
Lyle44 said:
So ~2 units of leccy? Call that pretty cheap tbh, given the stability of service (here anyway) where the power is generated from and distance travelled, the quantity of cabling, repairs, maintenance, distribution etc...
Bear in mind the energy suppliers don't keep the S.C.
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They do get some of it, the current and future SC is not what it used to be, Ofgem have been tinkering to help a demographic and to pacify the suppliers.
 
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Lyle44 said:
Of course, though when suppliers were selling for a loss due to the earlier 2021/22 price caps, nobody piped up to say we should provide support
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Well no, because the system is so unbelievably weighted in their favour that they knew it was a short term blip provided they had the capital to get through it.
 
Just been through my first Octopus bill on the tracker. Had to send them an email though as they've back dated gas to 1st July as they said in the email at signup, but not electricity.

However, it looks like a ~40% reduction on the price cap bills, almost back down to what I was paying per month when wholesale prices were around £50-60/MWh. Can't complain.
 
darkgen said:
While tracker is significantly lower than any current fixed, I'd stick on that and only jump if does tog heywire.
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The chances of it happening again like last year are next to none. I'd expect at worse it'll reach about the same to a little higher than the current price cap
 
robgmun said:
The chances of it happening again like last year are next to none. I'd expect at worse it'll reach about the same to a little higher than the current price cap
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You'd hope not but I've no idea what the government / suppliers have put in place with LFG / storage to counter any new extremes.
 
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