lowest oil prices for 12 months!! why still the increase?

Mazio_2

Cardew wrote: »

They stated that the reason was that a windfall tax would simply be paid for by us, the customers, in increased prices.

A windfall tax of £1 Billion of £100 Billion if we want to be silly, and they will raise the extra revenue from - you guessed!

Other than take the Utility companies back into public ownership, what can the Government do; even assuming that the utility companies profits are excessive - which they ain't!!!!

I know that it isn't what a lot of people want to hear, but the Utility company profits are not high in percentage terms and are measured in £10s per customer per year.

There really is a misconception that Utility company profits are the reason for our high energy prices.

So the alternative, from a windfall tax, of changes for pre-pay customers and Electricity only customers(justified or not) will simply be paid for by cross-subsidy in our tariffs.

Why not a windfall tax on, say, Tesco? who have much higher profits.

Cardew I actualy agree with you a windfall tax is very short sighted and would probably be recouped by us paying more, but the argument about Tesco is in my opinion not the same if I go to Tescos I can see exactly what I am paying for I can also see what other shops are selling the items for I dont have to buy everything from them I could buy their promotional goods and then get the more expensive items cheaper else were. I think Tesco is run very efficiently if they make vast profits and I feel I get a good deal I dont have a problem.
This is the problem I have with the utilitiy companies:-

1) Very confusing Tarrifs (I believe on purpose).
2) No automatic moving of accounts to new better Tarrifs meaning they increase old Tarrifs and its tough on those who dont notice.
3) Re-investing in the UK infrastructure (not enough).
4) Scare tatics to get you on long term contracts only advertised when its in their favour (which is natural for a commercial company).

Also foriegn companies would not have bought up UK companies if they did not see a potentially good return on capital. I have no problem with companies making profit or shareholders getting a slice if I think Iam getting value for my money (its what makes the world go round).

The whole industry is not in my opinion regulated correctly by this I mean from source (out of the ground) to end user and should be over seen like they are now starting to do with the banks.

I also except that some people will also abuse the system and are very wastefull its humane nature but this is in my opinion is only a small minority and the vast majority should not suffer.

roddydogs

Where are all the "Doomsters" who a few months ago were telling us that even higher petrol prices were "A Fact of life for the forseeable future" etc, etc, .......their keeping very quiet!

1carminestocky

roddydogs wrote: »

Where are all the "Doomsters" who a few months ago were telling us that even higher petrol prices were "A Fact of life for the forseeable future" etc, etc, .......their keeping very quiet!

:rotfl: To be fair, the poster who started a thread 'advertising' the BG 2011 fixed deal is still contributing to threads on here (this one in fact )


PS Be very careful taking as gospel what 'self-appointed experts' on here say - no-one can see into the future. I stick by this thread's intent, though...

http://forums.moneysavingexpert.com/showthread.html?t=1133229&highlight=gas+prices

wakeupalarm

Oil price hits 15-month low under $68
Crude oil futures were down more than 50% from record highs of above 147 dollars reached in July, when prices had rocketed on fears of supply disruptions.

The energy companies are playing us for fools.:mad:

1carminestocky

Economic woes send oil price below $70



Energy Company Press Officer

wakeupalarm

British Gas gives two fingers to customers

So now it's no longer the price of oil that determines gas prices but the prices they were at last year! The price last year has got nothing to do with their ability to reduce prices. They don't have to cut them by 50% but they can reduce them.

1carminestocky

Time to re-nationalise, I think. Similar to how the banks have demonstrated, ultimately capitalism doesn't actually work (unless you're a fatcat, of course).

mech_2

wakeupalarm wrote: »

British Gas gives two fingers to customers

So now it's no longer the price of oil that determines gas prices but the prices they were at last year! The price last year has got nothing to do with their ability to reduce prices. They don't have to cut them by 50% but they can reduce them.

Did you even understand the article you linked to? Basically it says that the price at which British Gas buys gas has gone up by 66%, but the price at which British Gas sells energy to domestic customers has gone up by 44%.

Yet somehow they are profiteering?

I think it's time everyone just grew up just a little bit.

Mazio_2

mech wrote: »

Did you even understand the article you linked to? Basically it says that the price at which British Gas buys gas has gone up by 66%, but the price at which British Gas sells energy to domestic customers has gone up by 44%.

Yet somehow they are profiteering?

I think it's time everyone just grew up just a little bit.

Iam afriad the utilitiy companies are just as much to blame by acting like school bully's and are justifiably getting their scare tatics and overcomplicated price structures back to haunt them.

Were are any of them now suggesting that if the price of oil stays at this then we are all in for MASSIVE price falls even if its some time away?

The point is they are the ones that seemed to have mislead people if they just shut up and try to weather the storm and hope the price goes up again before they need to make any comments.

So in my opinion for highly paid proffessional people they seem to be rather naive and childish in the first place! and those supporting them are just as naive (or seem to have a vested interest) even if some of the statements here are OTT! They need to say something soon even if they dont act striaght away.

Again I stress these are my own opinions I cant / will not link to graphs or statements which is probably very childish now weres my dinner money!

1carminestocky

mech wrote: »

Did you even understand the article you linked to? Basically it says that the price at which British Gas buys gas has gone up by 66%, but the price at which British Gas sells energy to domestic customers has gone up by 44%.

Yet somehow they are profiteering?

I think it's time everyone just grew up just a little bit.

If British Gas aren't happy with their business, why not just sell it? I'm sick to death of oil and energy companies (and the people who make their livelihood from these organisations) banging on about how little profit they make from the UK consumer. The energy industry (unfortunately IMO) is a private enterprise field, if British Gas are so fed up of their 'small' profits, why doesn't Centrica sell up? Instead of whingeing all the time, surely this would be a positive step? Maybe get someone in who can provide a more efficient service (wouldn't be difficult IME). You people should thank your lucky stars that you are allowed to sell a product that the whole of the GB population actually NEEDS as opposed to wants. If you can't stand the heat blah blah blah..