Greedy Power companies to be investigated

Sterling

JS477 wrote: »

OFGEM are useless and are too close to the companies so I'm not expecting anything positive for the customer to come out of this so called "investigation".

I totally agree. Anyone who knows anything about Ofgem’s so-called investigation into Npower’s gas sculpting scam for example (see post 4 above), may well feel that this latest proposed investigation by Ofgem into energy supply companies’ profits, will be about as much use as an investigation into organised crime by Don Vito Corleone.

Such investigations should be carried out by an independent body such as the OFT.

backfoot

C_Mababejive wrote: »

Am i the only one who doesnt think energy companies are greedy?

The UK has the most fiercely competitive and cheapest fuel costs in Europe and maybe the rest of the world for the prices of gas and electric.

Consider yourselves lucky.

No there's probably a handful of others.

I do, I can just about afford it.

MillicentBystander

C_Mababejive wrote: »

Am i the only one who doesnt think energy companies are greedy?

The UK has the most fiercely competitive and cheapest fuel costs in Europe and maybe the rest of the world for the prices of gas and electric.

Consider yourselves lucky.

By their very nature the vast majority of companies are 'greedy', especially those with shareholders. The problem lies with letting commercial enterprises sell a commodity that is essential to everyday life and then not putting in place a body that will independently and dilligently regulate them.

The 'European figures' that are oft peddled on here are a nonsense and IMO often peddled by industry patsies. The real way to compare what the rest of Europe is paying in real terms is to show the cost as a %tage of average annual wages/household income. You can't just convert the price they are paying in Euros to Pounds and come up with any meaningful figure. It's silly.

Mazio_2

The other problem is you are comparing against other countries that can include tax in their unit cost.

We are funding with these higher prices in this country the green power industry and the infrastructure that needs to be replaced and this could mean another 70% increase (as the industry has already touted) nothing to do with wholesale prices . The problem I have they still need to pay dividends to their shareholders and bonuses to the management that wont suffer at all.