Change to the Co-op - support the UK economy

Angel_Dove

So glad to find a UK owned supplier - thanks MoneySavingExpert.com Like many Im concerned that most utility providers profits go overseas (biggest 6 energy companies are all foreign owned); so now Im saving money and supporting the UK economy!

Wywth

Angel_Dove wrote: »

So glad to find a UK owned supplier - thanks MoneySavingExpert.com Like many Im concerned that most utility providers profits go overseas (biggest 6 energy companies are all foreign owned); so now Im saving money and supporting the UK economy!

Sorry, but that is incorrect.

alanq

British Gas is owned by Centrica which is British....

Scottish and Southern Energy is also British.

This does not guarantee that no profits go abroad. Just as British people/institutions can own shares in foreign companies foreigners can own shares in British companies.

alanq

As far as I know Co-op doesn't generate any significant electricity it is just selling electricity bought on the wholesale market. Reading this report very few major electricity generators remain British.

http://www.seris.co.uk/SERIS_%28Sheffield_Energy_Resources_Information_Services/Viewpoint_files/Who_Owns_UK-Generation.pdf

macman

The Big Six are based in the UK and pay corporation tax in the UK. Their shareholders are a mixture of UK and overseas investors. There's no evidence that any of them are 'doing a Starbucks' and exporting their profits offshore.
How does that make them any less 'British' or less supportive of the UK economy than the Co-Op?