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MSE News: Ofgem steps up probe into energy prices

Former_MSE_Guy
Former MSE Posts: 1,650
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This is the discussion thread for the following MSE News Story:
"The regulator wants to determine if profits at the big six suppliers have been underestimated to justify higher prices ..."
"The regulator wants to determine if profits at the big six suppliers have been underestimated to justify higher prices ..."
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I had a survey from E-on through the email last week trying to convince me that profits were only 1% of the bill. Yeah right. I don't think so.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S)
Loans cost 2.9% per year (Nationwide) = FREE money.
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What on earth does Ofgem do all day?
There are only the big six firms to keep tabs on and yet they still have to bring in someone from outside! This is to confirm what is already known in the department of the bleedin' obvious - us consumers are getting ripped off left, right and centre.
What an utter waste of taxpayer money.
Quis custodiet ipsos custodes as they say. OfOf? Or better still, RipOF
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Deja vu.
This is from November 2010.
http://www.ofgem.gov.uk/Media/PressRel/Documents1/Retail%20Market%2026%20November.pdf
This is from March 2011:
http://www.ofgem.gov.uk/Media/PressRel/Documents1/RMRFinal%20Final.pdf
It looks like this year's review starts a bit earlier.0 -
Deja vu.
This is from November 2010.
http://www.ofgem.gov.uk/Media/PressRel/Documents1/Retail%20Market%2026%20November.pdf
This is from March 2011:
http://www.ofgem.gov.uk/Media/PressRel/Documents1/RMRFinal%20Final.pdf
It looks like this year's review starts a bit earlier.
Lol. That just about sums up this shower.0 -
"What an utter waste of taxpayer money"
Ironically the reason why Ofgem is spared the bonfire of the quangos whilst Consumer Focus is culled is that Ofgem doesn't cost much. I believe its financed by the industry.Mixed Martial Arts is the greatest sport known to mankind and anyone who says it is 'a bar room brawl' has never trained in it and has no idea what they are talking about.0 -
True tea. They cost the Govt. nowt and indirectly net them billions....they are safe from any cull.0
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Its madness isn't it?Mixed Martial Arts is the greatest sport known to mankind and anyone who says it is 'a bar room brawl' has never trained in it and has no idea what they are talking about.0
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Absolutely.0
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To quote a line by Dennis Healey about Geoffrey Howe, I can quite confidently state that on behalf of the big six, that getting attacked by Ofgem is like getting mauled by a dead sheep. Ofgem are quite easily the most hopeless regulator and obviously have to portray their concern at massive energy hikes to 'pull the wool' (pun not intended) over the public's eyes. We all know better that they are basically puppets on the string of the big six , because we are talking about mega millions of pounds here. I'm not saying anything corrupt is happening but it does make one wonder.0
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