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BG first-half profits rise 23%
Comments
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Hundleton1 wrote: »Nice brake down there, 3% is one hell of a tight margin. Hell I ran my own business for 10 years and I certinally would not of survived on 3%.
As has been said 3% is not masively ripping people off
But, this is no normal industry or commercial operation. The energy supply industry has long been suspected of being a cartel, and lacking competition. So why would you need massive profits if you can afford to fail and still retain a hefty chunk of the market? It's not as if the Big 6 are that much different from each other is it?0 -
bankhater_1965 wrote: »the centrica group that owns british gas has made £2.5bn profit whilst we live in fuel poverty and the chairman of british gas will recieve £700,000 bonus on top of his £650,000 annual wage while alot of pensioners are scared to turn there heating on ,these people should be damm shot for such a crime on humanity
i cannot believe british gas is not responsible for no deaths over the last years due to price increasing putting the fear of god up the elderly
Sorry but I just don't agree with that. Regardless if you like it or not BG is now a private business and is entitled as such to make a profit. I have no problems with companies making a profit. Infact with out it business would not employ.
3% is a fair margin on what they do. Infact the elderly who are affrade to use fuel will be paying far less than the average bill and as such giving BG far less profit.
A business must make a profit. Regardless of the top number the real truth is how much per customer. To make £40 per year on a customer spending in excess of £1300 is fair as far as I am concerned.
To say they are putting people into the graves is completely incorrect t. The fact is energy prices are rising due to a number of reasons. Larger demand than ever before due to people living longer. Add to the the Chinese and Asian markets consuming far larger amounts than ever before and the final thing most peole don't realise is the Japan nukuler disaster, ALL Japanies reactors were taken offline to perform new more stringent safety tests, this has resulted in a masive increse in demand for coal and gas.
To Blaime BG is just short sighted.0 -
bankhater_1965 wrote: »..
i cannot believe british gas is not responsible for no deaths over the last years due to price increasing putting the fear of god up the elderly
Whether or not you believe it is neither here nor there. But the fact is that there no connection whatsoever between energy prices and excess winter deaths. Neither is there any connection between fuel poverty and excess winter deaths. And believe me people have tried to find one.0 -
Consumerist wrote: »It is and you raise an interesting point. My dual-fuel energy bill (not BG) is on a single customer account.
Edit
It occurs to me that Economy 7 customers with two meters may count as two customers, however.
Its counted by registration to the property. So, the gas MPRN is counted but in elec you can have 2 MPAN's with some meters but they can easily reduce this to 1 MPAN by using registration data in the distributors databases such as "MTC associations" since 1 is the primary and 1 is the secondary, meter number or a data item that identifies a meter with complex settings and multiple MPAN's.
Its always reported this way and those working for suppliers will get a split of singular vs dual fuel.
Its easy enough for the industry to include a dual fuel statistic anyway based on address, its just slightly mire work.:rotfl: It's better to live 1 year as a tiger than a lifetime as a worm...but then, whoever heard of a wormskin rug!!!:rotfl:0 -
Hundleton1 wrote: »Sorry but I just don't agree with that. Regardless if you like it or not BG is now a private business and is entitled as such to make a profit. I have no problems with companies making a profit. Infact with out it business would not employ.
3% is a fair margin on what they do. Infact the elderly who are affrade to use fuel will be paying far less than the average bill and as such giving BG far less profit.
A business must make a profit. Regardless of the top number the real truth is how much per customer. To make £40 per year on a customer spending in excess of £1300 is fair as far as I am concerned.
To say they are putting people into the graves is completely incorrect t. The fact is energy prices are rising due to a number of reasons. Larger demand than ever before due to people living longer. Add to the the Chinese and Asian markets consuming far larger amounts than ever before and the final thing most peole don't realise is the Japan nukuler disaster, ALL Japanies reactors were taken offline to perform new more stringent safety tests, this has resulted in a masive increse in demand for coal and gas.
To Blaime BG is just short sighted.
There are some rules but only where the Deemed contract is discussed in the SLC's. Their charges cannot significantly exceed their cost of supplying and/or revenue exceeds costs.
% per customer across such a large & diverse market is a poor statistic anyway. There are many types of meter, costs % prices vary per region, non payments & profit generated from additional charges, etc.
A good statistic would break it down further. Its too complex to consider cost per customer of true value. It will be much higher profit for some customer and lower for others. It would be interesting to see it this way e.g. buckets. You might see something more interesting that way.:rotfl: It's better to live 1 year as a tiger than a lifetime as a worm...but then, whoever heard of a wormskin rug!!!:rotfl:0 -
it really doesn't matter whether they increase prices by 25% or 300%, because nobody does anything about it, we all just sit back hoping 'somebody else' will take action or the regulator will step in, both of which are about as effective as believing in Santa Claus.
We hear that one energy company hikes their prices, so we bleat like frightened sheep and stampede to their 'competition', only to find they are all at it.
For the last ten years, annual household energy prices have increased from around £540 a year to well over £1100, and each time we've whined on forums and whinged to newspapers, and you can see for yourself just how successful that has been - we are paying more than double for the same energy, and now it seems to be going up even faster than it ever has before. Clearly the energy companies are taking notice of us aren't they!.
Great!, so lets carry on whinging about it in the same manner, and by 2020 we'll be paying £2200 a year.
We really are a spineless, gutless nation, with a distinct absence of collective testicles. We let ourselves be constantly screwed over by several entities, year after year and nobody says 'boo'
But Hey!, we got Eastenders and Coronation Street, and Facebook so life is swell
Jog on"Dont expect anybody else to support you, maybe you have a trust fund, maybe you have a wealthy spouse, but you never know when each one, might run out" - Mary Schmich0 -
Great!, so lets carry on whinging about it in the same manner, and by 2020 we'll be paying £2200 a year.
We really are a spineless, gutless nation, with a distinct absence of collective testicles. We let ourselves be constantly screwed over by several entities, year after year and nobody says 'boo'
This simply is not a UK problem but the consequence of world energy prices soaring, and to a certain extent the penalty imposed on us for the 'Green' subsidies to produce 'clean' energy.
In fact the UK has some of the cheapest prices in Europe for gas(particularly) and electricity.
Unless the Government decides to subsidise the prices we pay, we are governed by world prices. Whatever your view of the size of energy company profits, it is quite clear that even if they were non-profit organisations, it wouldn't make much of a dent in the prices we pay.
At the time of 9/11 oil prices were around US$26 a barrel. It is now around $90 and has been well over $100.0 -
This simply is not a UK problem but the consequence of world energy prices soaring, and to a certain extent the penalty imposed on us for the 'Green' subsidies to produce 'clean' energy.
In fact the UK has some of the cheapest prices in Europe for gas(particularly) and electricity.
Unless the Government decides to subsidise the prices we pay, we are governed by world prices. Whatever your view of the size of energy company profits, it is quite clear that even if they were non-profit organisations, it wouldn't make much of a dent in the prices we pay.
At the time of 9/11 oil prices were around US$26 a barrel. It is now around $90 and has been well over $100.
if that is true would you not agree the group that owns british gas has profits off 23% and a bonus to british gas chairman £700,000 whilst people are scared to turn there central heating on is right when theres a room for a big reduction on lower prices due to massive profits, or is it a case of reinvestment which is the oldest excuse there is0 -
bankhater_1965 wrote: ».. when theres a room for a big reduction on lower prices due to massive profits, ''
But there isn't any room for a 'big reduction' due to 'massive profits'. British Gas is making a profit of about £40 per household it supplies, and a £40 reduction on a typical energy bill of £1260 is only about 3%.0 -
....We really are a spineless, gutless nation, with a distinct absence of collective testicles. We let ourselves be constantly screwed over by several entities, year after year and nobody says 'boo'....
What, are you suggesting that we should invade Qatar or Norway and expropriate their gas so that we don't have to pay for it anymore?0
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