taxman Posted October 14, 2011 Share Posted October 14, 2011 Yet again energy firms' profits rise on the back of massive price increases, this is despite their constant bleating that wholesale costs have risen and forced them to put up prices. "The profit margin for energy companies has risen to £125 per customer per year, from £15 in June." Ofgen are promising to bring in clearer tariffs but they have no powers to stop energy companies profiteering. Should something be done to ease the pressure of high fuel costs? Should profits be capped? Or is this is a wonderful and shining example of the free market which we should all celebrate and rejoice at? Link to comment Share on other sites More sharing options...
grafikhaus74 Posted October 14, 2011 Share Posted October 14, 2011 I suppose it'll be like a couple of months ago when British Gas were 'fined' £2Bn. Where did the money go? Straight into the Treasury! In other words, another tax on people. The politicians have, again, thrown us to the wolves by selling most power suppliers to overseas companies (who don't charge their compatriots anything like they charge us). Never mind. The windmills will sort it all out. Link to comment Share on other sites More sharing options...
MrSmith Posted October 14, 2011 Share Posted October 14, 2011 An average fuel bill of £1,345 with a profit of £125 is less than 10% profit which isn’t very high. If everyone moved to the cheapest supplier on the lowest tariff it would help to drive prices down but with a profit of just £125 per customer they can’t come down much. Link to comment Share on other sites More sharing options...
mj.scuba Posted October 14, 2011 Share Posted October 14, 2011 I think it's about time we had a political party that would declare war on "Rip-off Britain" and look into prices and profits on things including energy, supermarkets, insurance, fuel, train fares, bus fares, consumer goods etc. and introduce tighter regulation where necessary so there is no profiteering. If any party did that, they'd get my vote. I don't mind firms making a profit. There needs to be profit otherwise where is the incentive to invest, and they need profit to continue investing in infrastructure etc. I do object though when companies are needlessly inflating their prices in a cartel like fashion in order to make a mug of the consumer and make ever expanding profits from us. Link to comment Share on other sites More sharing options...
truman Posted October 14, 2011 Share Posted October 14, 2011 Never mind. The windmills will sort it all out. Except that "renewable" energy seems to be even more expensive... Link to comment Share on other sites More sharing options...
Nagel Posted October 14, 2011 Share Posted October 14, 2011 Re-nationalise the utility companies. It's insane that there's so many companies. Link to comment Share on other sites More sharing options...
WeX Posted October 14, 2011 Share Posted October 14, 2011 We don't need clearer pricing, we need cheaper utilities! Link to comment Share on other sites More sharing options...
skinz Posted October 14, 2011 Share Posted October 14, 2011 I think it's about time we had a political party that would declare war on "Rip-off Britain" and look into prices and profits on things including energy, supermarkets, insurance, fuel, train fares, bus fares, consumer goods etc. and introduce tighter regulation where necessary so there is no profiteering. If any party did that, they'd get my vote. I don't mind firms making a profit. There needs to be profit otherwise where is the incentive to invest, and they need profit to continue investing in infrastructure etc. I do object though when companies are needlessly inflating their prices in a cartel like fashion in order to make a mug of the consumer and make ever expanding profits from us. After that I'm almost inclined to have sex with you scuba...even though I'm a bloke. Link to comment Share on other sites More sharing options...
rickiethecat Posted October 14, 2011 Share Posted October 14, 2011 Yet again energy firms' profits rise on the back of massive price increases, this is despite their constant bleating that wholesale costs have risen and forced them to put up prices. "The profit margin for energy companies has risen to £125 per customer per year, from £15 in June." Ofgen are promising to bring in clearer tariffs but they have no powers to stop energy companies profiteering. Should something be done to ease the pressure of high fuel costs? Should profits be capped? Or is this is a wonderful and shining example of the free market which we should all celebrate and rejoice at? This may come as a shock to you, but the whole point of a private company is to make a profit. If you're unhappy with the company you get your fuel from, it's perfectly simple to switch to another one; surely that's far better than a nationalised monopoly where you have no choice? Link to comment Share on other sites More sharing options...
Kadogo Posted October 14, 2011 Share Posted October 14, 2011 This may come as a shock to you, but the whole point of a private company is to make a profit. If you're unhappy with the company you get your fuel from, it's perfectly simple to switch to another one; surely that's far better than a nationalised monopoly where you have no choice? It is even easier to buy shares in them. Link to comment Share on other sites More sharing options...
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