B Gas "at it again" Prices Up by 60%

alared

http://news.bbc.co.uk/1/hi/business/7512971.stm

roddydogs

How many time are they going to announce this, virtually every other day on the news YES WE GET IT FUEL/GAS ETC ARE GOING UP WE KNOW!!!!!!!!!!!!!!!

Joyful

I'm confused as to what "they are at"? The parent company has arranged a report on the global situation which gives everybody advance warning that all companies will have increased costs - therefore so will the consumer. It's tighten our belts even more time.

Cardew

Joyful wrote: »

I'm confused as to what "they are at"? The parent company has arranged a report on the global situation which gives everybody advance warning that all companies will have increased costs - therefore so will the consumer. It's tighten our belts even more time.

BG are the favorite 'whipping boy' although NPower are trying hard to take over.



This is an interesting quote:

Was British Gas ripping off its customers?

Arguably – but no more than any other supplier. It cut prices during the latter half of last year, sparking a price war that benefited many consumers. Joe Malinowski, founder of price comparison website EnergyShop.com, said: “Operating profit per customer account at British Gas came in at £35.60 for the year – £33.90 in the first half and only £2.40 in the second. British Gas’s decision to lead the price-cutting last year, as well as offering the cheapest tariff for most of 2007, meant their second-half profits were virtually wiped out.”

That is for one of their best ever years(2007) in 2006 it was just 20% of that figure and before that they made a loss.

So even if all the companies made zero profit, it wouldn't have a huge impact on our prices.