Power Firms Overcharge Us By 25%

moonrakerz

http://business.timesonline.co.uk/tol/business/money/consumer_affairs/article1942069.ece

Poppycat

It sickens me that companies are profiteering like that to the detriment of the customer. Being on a tight budget and having a disabled daughter who feels the cold I really have to make some choices whether to cut back on fuel even though she is cold and we cant have heating on.

I am trying to keep my house warm (whatever happened to Summer?) but it isn't always easy, I really dread Winter coming

Ken68

The report is not true in saying that distribution costs have remained static.
What of the huge tanks put in a couple of years ago to accommodate the gas from Russia via the Holland pipe.
And with BG making money from wholesale too, it could explain why they are willing to let go so many customers at the retail/hassle end.

IvanOpinion

There are certain items in the report that show a very poor understanding of what is actually going on behind the scenes ... that leaves me with no choice but to question the rliability of some of the other stuff.

Ivan

Alfie_E

Ken68 wrote: »

The report is not true in saying that distribution costs have remained static.
What of the huge tanks put in a couple of years ago to accommodate the gas from Russia via the Holland pipe.

That’s not quite how you account for large infrastructure projects. You borrow the money. You make the investment. You then have to cover the interest on the loan and capital depreciation. Each year, new debt is taken on and old debt slowly cleared. So, there isn’t a huge increased burden by such projects. Also, static refers to the cost per unit of energy distributed. More infrastructure will be needed, if you are distributing and selling more.

Cardew

There is little doubt that any commercial company will use any method to maximise their profit. It is the fault of the Regulator if he allows those profits to be excessive.

It doesn't do much for the objectiveness of the article when they compare saving's between BG's standard tariff and Powergen's on-line tariff. 2 different types of tariff. BG's on line tariff would show the same savings.

siren13577

I think utility companies should not be a profit making exercise, as a customer I wouldn't mind paying for upkeep, the products I use but when it comes to paying for some fat cats yacht or golf club membership then no thanks. It's absolutely disgusting. I always wonder how in an apparently(for the ideas behind it as opposed to religious content, and not disincluding any other religion with similar tenets) Christian society people focus so much on wealth. I find it quite depressing and wish there was some way for people to change for this money grabbing idea.

IvanOpinion

siren13577 wrote: »

I think utility companies should not be a profit making exercise, as a customer I wouldn't mind paying for upkeep, the products I use but when it comes to paying for some fat cats yacht or golf club membership then no thanks. It's absolutely disgusting. I always wonder how in an apparently(for the ideas behind it as opposed to religious content, and not disincluding any other religion with similar tenets) Christian society people focus so much on wealth. I find it quite depressing and wish there was some way for people to change for this money grabbing idea.

They did try it .. the biggest failed political experiment of the 20th century was communism ... a monumental failure in that it became obvious that certain elements were much more equal than others. We live in a (generally) capitalist society which ultimately does benefit the majority ... without companies making profits we would all be much worse off. We all have to go out there and find the opportunities and make the most fo them.

Ivan

Ken68

The end user pays for everything, whether it's the fat cats m istress or the time wasting clocker onner.
The ultimate sanction is for the end user to walk away to another energy company, and that should be made easier, with simpler bills and quicker transfers.
And you should not feel left in the cold Poppy cat, with all the grants available.

Cardew

siren13577 wrote: »

I think utility companies should not be a profit making exercise, as a customer I wouldn't mind paying for upkeep, the products I use but when it comes to paying for some fat cats yacht or golf club membership then no thanks. It's absolutely disgusting.

I have to agree with IvanOpinion above.

The old system of Utility ‘companies’( The Gas and Electricity ‘Board’) having a monopoly was far less efficient than the present arrangement; and we would pay for that inefficiency.

Poppycat

Not against companies making profits that's healthily what I am against is poor regulation and absurd profits as a result.

Heating is a essential to life, and should be recognised and safe guards in place for those who are vulnerable and or low income households, thats doesn't just include Winter fuel payments because there are people under age who are just as vulnerable and get nothing.