bengasman wrote: »
During the the height of the recession, the profits went up by 58% in one year, whilst the man in the street was suffering.
If that is not profiteering, I really don't know what is.
gazjoneswales wrote: »
Dont you also realise that these 2 years of profit growth come on the back of two exceptionally cold winters. If people use more of something then ofcourse levels of profits will increase.
bengasman wrote: »
True as that may be, BG had MASSIVE price increases during this period.
For obvious reasons, they make as much noise as possible when they lower the price around the time the whole country has switched the heating off, and are as quiet as they can when they up the price.
It's profiteering all right.
JSR wrote: »
These are British gas profits since five years ago. The figures in brackets are inflation adjusted (link).
2006 £640m (£758m)
2007 £571m -11% (£649m)
2008 £379m -34% (£414m)
2009 £598m +58% (£652m)
2010 £742m +24% (£742m)
It does not look like a company that is profiteering. The profits are just volatile. Large gains but also large falls. The real terms profit from five years ago are more than this year's despite the unusually cold winter.
Skymist wrote: »
With regards to price hikes/rises/ripoffs, this makes me REALLY angry!!!http://www.telegraph.co.uk/earth/energy/windpower/8573885/Wind-turbines-switched-off-on-38-days-every-year.html
Energy companies "have to" use "x" %age of renewable energy, and to do so, it costs loads to power down the national grid, which is subsidised by .....US!!!
What an we expect when it's in the hands of a plonker like this....?http://www.spectator.co.uk/coffeehouse/7087828/huhne-poohpoohs-rising-energy-bills-as-nonsense.thtml
CotswoldRambler wrote: »
Thought provoking though it is this article makes no comment about the major reason we all complain about energy prices.
Thanks to the competitive nature of our energy market we are subject to far greater volatility in prices than we would have if the suppliers had not been privatised. Yes they do make profits but we should remember what the alternative would be.
When the idea of privatising the state run monopolies was first raised I met some electricity workers as they installed a sub-station. I asked what they thought of the idea of privatisation - expecting them to have the standard outraged response. Extraordinarily for a workforce with a very strong union who usually did anything they could to prevent management making sensible changes to very wasteful working practices they loved the idea of privatisation. When I asked what it would mean they said it was the best thing that could happen and that whilst there would be initial price rises whilst the idea of profits were established costs would then reduce and prices would fall lower and lower.Rather than being outraged at the cost of energy we should be grateful that the cost is a much lower percentage of our income than it would be if the market was still a monopoly. Sudden price hikes are the penalty we pay for having a competitive market with low initial prices.
Rather than complaining we should take control of our energy usage and take steps to stop wasting so much. We set our heating far higher than we used to so we can sit around in our underwear and eat too much.
posh*spice wrote: »
So you're a global warming/ resource depletion denier are you?
If you plan to get a place via 'clearing'
Lower your band & save £1,000s
Past-best-before health food etc