Energy price conspiracy?

handful

I can't believe how little coverage there has been about how the energy companies are only passing on 'token' reductions when oil prices have fallen to well below what they were before both of the double digit increases (up to 27% in one) imposed last year. I am beginning to wonder whether they are being given some serious slack by the government due to the increased deflationary pressure that 'realistic' price cuts would bring?? Why the hell are OFGEN not demanding more cuts??

Rochdale_Pioneers

handful wrote: »

I can't believe how little coverage there has been about how the energy companies are only passing on 'token' reductions when oil prices have fallen to well below what they were before both of the double digit increases (up to 27% in one) imposed last year. I am beginning to wonder whether they are being given some serious slack by the government due to the increased deflationary pressure that 'realistic' price cuts would bring?? Why the hell are OFGEN not demanding more cuts??

You have to do two things:

1. Look at the headline price for oil/gas 3 months ago when the stuff we burn now was bought
2. Look at the exchange rate to the dollar which is the currency they pay in

handful

I know, look at the price at the pumps as well as that is also paid for in dollars.

I just think the huge profits and hence huge tax revenues earned, added to the deflationary pressures a fair price would drive could be a reason why there seems to be very little appetite for an inquiry.

Thrugelmir

The energy market is far more complex than just "today's current price". This is a headline number which makes the news but isn't applicable to the whole market.

The problem we have in this country is that the majority of our energy is supplied by foreign companies. Like the building socities and mutual insurance companies these businesses were sold off for short term gain. Now we are paying the price. Our ability to influence them is very limited.

confused31_2

Just think of yourself being lucky, the man :money:was telling everyone to fix their gas and electricity last year before prices soared, some people are still stuck in these fixed deals and they even paid for the pleasure if it.:eek: