MSE News: We'll freeze energy prices, Ed Miliband tells Labour conference

Totality

setmefree2 wrote: »

By the way, charities and consumer groups are warning that millions of households are facing fuel poverty, with a growing number forced to cut down or switch off their heating in the colder months, with potentially dangerous consequences....don't you care about that? It's not all about party politics is it?

Of course I care about that...and my bills cost me a fortune, like they probably do you. I'd love my bills to be frozen or cut.

However, I don't believe there is any chance of the UK getting a genuine prize freeze without paying for it before/after 2015-2017.

Also, a freeze will surely lead to the risk of job cuts, lack of investment etc.

If you're in charge of one of the big power companies this morning, would you be wanting to go ahead with investment in new power stations, infrastructure etc knowing there is a chance that you'll not be able to raise prices in a couple of years?

setmefree2

Totality wrote: »

However, I don't believe there is any chance of the UK getting a genuine prize freeze without paying for it before/after 2015-2017.

Why not??

Totality wrote: »

Also, a freeze will surely lead to the risk of job cuts, lack of investment etc.

Let's see - March 2013 "Fatcat bosses at energy giant Centrica shared a £16million bonanza last year - as customers were hit with sky-high bills. The owner of British Gas rewarded five bigwigs with eye-popping packages - including more than £11m in bonuses.
Centrica chief executive Sam Laidlaw got nearly £5m worth of pay, perks and rewards on his own - enough to heat and light the homes of 3,700 of its customers for a whole year. He is also sitting on a £9m shares mountain.
Critics branded the pay-outs “obscene”, with millions of the firm’s customers struggling to make ends meet.
Centrica’s annual report revealed its top five top bosses got a total of £16.4m in 2012, up from £15.4m a year earlier.
Including non-executives, the total rose to £17.4m"

Maybe some pay cuts wouldn't be a bad thing?

Totality wrote: »

If you're in charge of one of the big power companies this morning, would you be wanting to go ahead with investment in new power stations, infrastructure etc knowing there is a chance that you'll not be able to raise prices in a couple of years?

I don't think people would mind if they really thought that was where the money was going....why are you so sure?

Joe_Bloggs

According to the MSE Utilities / Phones section of this website

A certain energy provider will offer this -:
Price Protector March 2017

With Price Protector March 2017, your electricity and gas prices will be fixed at the rates you sign up to, so you’ll not see any price rises before 31st March 2017.
[STRIKE]

Do your research before ranting.
[/STRIKE]
If you have a closed mind then you are already stuck in your mindset.

Totality

setmefree2 wrote: »

Why not??

Because the fat cat bosses aren't going to like being told they can't put up their prices for a certain period of time.

You honestly think that if this happens, we'll get to 2017, the price freeze ends, and the likes of British Gas and nPower WON'T put prices right up?

I just don't see this happening, even if Labour do win the next election.

However, if the prize freeze was to happen, is there a chance Ed will just hand the costs to the energy companies through general taxation?

Genuinely can't believe anybody believes this would happen without us all getting stiffed in the pocket somewhere along the line.

MillicentBystander

If the Tories couldn't even get an overall majority in the last election facing a Govt in crisis with a leader with so little public support, what makes anyone think they will win the 2015 election after their disastrous running of the country whilst in power? Don't get me wrong, I really do believe the Labour party chose the wrong brother to lead them but that is the Tories' ONLY chance in 2015, I'm sure.

setmefree2

Totality wrote: »

Because the fat cat bosses aren't going to like being told they can't put up their prices for a certain period of time.

Errr so we just roll over???

Totality wrote: »

You honestly think that if this happens, we'll get to 2017, the price freeze ends, and the likes of British Gas and nPower WON'T put prices right up?

Personally, I would like a proper parliamentary investigation into !!!!!! is going on and a price freeze while that is carried out wouldn't seem unreasonable.

Pincher

There's no secret to retail pricing. Sir Alan Sugar said on The Apprentice Amstrad stamped out Sky Mini-dishes for £1 each, and the retail customer paid about £50.

The price is what the customer will pay.

What about this:

If everyone who wants it can have a ten year fixed contract,
then you will be crazy to switch, unless you move house. This will drastically reduce the need for admin and sales force, reducing cost. Shame about all the staff made redundant because of my idea. The customer who move around SHOULD pay more because they incur extra admin.

Plushchris

Everytime I hear an announcement from Ed "Chinless wonder" Millipede (or Labour in general) my response is always the same..

"Wheres the money for that going to come from?"

I hate politicians, Labour took a big dump on this country while they were in power and the Tories havent done much to wipe up afterwards..

TBH I dont know who to vote for in 2015...

michaels

mat5664 wrote: »

Price controls in a market economy do not work. Providers will simply stop investing and put up prices drastically both before and after the freeze. Anyone who falls for this needs to have a look back in history at the last time we had price controls.

A sharp increase in prices in anticipation of a freeze would suit labour really well run up to election, under Tories prices are rising rapidly, Labour are promising a freeze (which the suppliers have already factored in). Suppliers win, Labour wins, consumers lose, pitiful '4th estate' make no attempt to explain this as it is 'too complicated'.

If our utility companies are making excessive profits why is it that according to independent EU research UK prices are 10+% below the European average?

Plushchris

Chinless wonder Ed will probably announce today that under a labour government petrol prices will fall below £1 a litre too...


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