MSE News: British Gas boss: Why I put your energy prices up

Former_MSE_Helen

"With EDF the latest to hike prices, British Gas MD Phil Bentley explains why the UK's largest supplier is doing the same ..."

Read the full story:

British Gas boss: Why I put your energy prices up

Wywth

Keep one thing in mind. If you pay by direct debit, or if you manage your account online, British Gas saves money. Instead of keeping the money we save, we give it back to you in the form of a discount. This seems fair — people would be rightly cross if we kept that money.
[MSE insert: energy from all firms is cheaper this way].

Well I can think of at least one company where this absolutely does not apply.

mad_angler1

It's allways been clear that the company them selve don't make huge profit per customer but the news loves to blame the suppliers.

penrhyn

Indeed, I was happy with Ebico for a couple of years, however their prices became uncompetitive for me, still good for low users though.

N.I.M

I'll give the man credit for having the back bone to come and lay out his stall and back it up with his email address. Not sure how convinced I am but if the figures are accurate where is all this "Bumper Profit" stuff coming from?

Wywth

N.I.M wrote: »

I'll give the man credit for having the back bone to come and lay out his stall and back it up with his email address. Not sure how convinced I am but if the figures are accurate where is all this "Bumper Profit" stuff coming from?

20 million customers

£50 profit from each

It soon adds up ... that's £1billion

rjhempel

I would like British Gas to tell us why the insulation offer they give for the loft doesn't cover those who want to retain the use of their loft and why when I suggested to them that those whose houses are pre WW2, would most likely want to retain the use of their lofts, they can't for instance, put the insulation into the roof, I still have no answer.

Wywth

rjhempel wrote: »

I would like British Gas to tell us why the insulation offer they give for the loft doesn't cover those who want to retain the use of their loft and why when I suggested to them that those whose houses are pre WW2, would most likely want to retain the use of their lofts, they can't for instance, put the insulation into the roof, I still have no answer.

Wouldn't it get wet if it was put onto the roof? :cool:

magicuk

Least his come out and explained how wholesale costs have risen and profit margins are lower. I just switched to EDF blue April 2014 fix luckily but this makes BG seem alot more open and a supplier I will now look at if I can save money.

Bark01

N.I.M wrote: »

I'll give the man credit for having the back bone to come and lay out his stall and back it up with his email address. Not sure how convinced I am but if the figures are accurate where is all this "Bumper Profit" stuff coming from?

Because when talking about residential supply business its common for the press to report the profits of the parent company and not the supply business on its own. When legally the supply business has to be operated separately from the wholesale / generation business.

crispibits2

I notice that quite a bit of the increase is from the wholesale price of the gas. If only they had some control over that, for instance having some connection with a gas supplier like, I dunno, pick one out of the air - Centrica?