Wholesale energy down up to 85%; Retail energy down 10-15%?

booneruk

This is a massive scandal that some people are still trying to cover up!

Could you say this again please? 

Netexporter

And what are you opinions on Covid vaccines and smart meters?

matt_drummer

goldConsidered said:

Netexporter - most people don’t have the luxury nor the capacity to avail cheaper energy.

Another very startling statistic - the smoking gun. Energy company profits have soared to record territory this year. British Gas alone made profits of almost £1 billion just during the first 6 months of 2023!

This is a massive scandal that some people are still trying to cover up!

They have 10 million customers, they made £97 per customer.

During the same period in 2022 they made profits of £98 million, that is around £10 per customer.

It is hardly a scandal!

They pay tax on those profits in this country.

They employ people in this country who also pay tax.

The pay dividends to shareholders, lots of private individuals and pension funds.

Lots of energy retailers in the UK went bust and many others have made losses in recent years.



Why is it so difficult for people like you to understand that if you have a lot of customers your profit will be a large number even if you make very little per customer?

This is not some bloke sitting in his shed with a diesel generator making £969 million in six months!


There is no cover up. You have access to the internet. Do some research, just on this website alone there is a wealth of information that will tell you all you need to know.

matt_drummer

goldConsidered said:

There seems a CONcerted effort to cover up this scandal.

Consumers, like myself, know exactly how much more they have to pay now compared to 2 / 6 even 18 years ago, no matter how much some people try to hoodwink us.

Another actual statistic: Wholesale gas prices are roughly the same as they were in 2005, 18 years ago! Wholesale electricity prices are roughly the same as they were early 2017! How much are retail prices now compared to 2005 and 2017?

This is a massive scandal that some people are trying to cover up!

This time last year you would have been paying double what you are paying now without government support.

Energy has gone up in price, there is more demand from other parts of the world, there's a war and we had a global pandemic.

Despite this, you are paying half of what you should have done last year.

There is no cover up, the information is freely available to you and everybody else.

It's you who is not looking and does not understand.

QrizB

Netexporter said:

As I said, if you want to pay less then go on Agile, or other wholesale tracking tariffs, then as long as you use energy only at the cheapest times you'll be quids in. If you want to be able to use energy at any time then you will pay a premium.

and

goldConsidered said:

Netexporter - most people don’t have the luxury nor the capacity to avail cheaper energy.

More than 50% of UK domestic energy supplies - "most people" - have functioning smart meters.

Every single one of those customers will be eligible for the Octopus Tracker or Agile tariffs which track wholesale prices.

matt_drummer

QrizB said:

More than 50% of UK domestic energy supplies - "most people" - have functioning smart meters.

Every single one of those customers will be eligible for the Octopus Tracker or Agile tariffs which track wholesale prices.

I am not a betting man but I would bet that the OP also has an issue with smart meters.

I could be wrong of course, doubt I am though.

Netexporter

The main problem is customer ignorance/lack of interest in their energy supply.

These days you have to pass a theory exam to understand the rudiments of how a car works and an idea of basic maintenance. It seems that people should have to pass a similar test to be able to buy/lease a home.

You only needed a man with a red flag to walk in front, when I took my driving test

QrizB

matt_drummer said:

QrizB said:

More than 50% of UK domestic energy supplies - "most people" - have functioning smart meters.

Every single one of those customers will be eligible for the Octopus Tracker or Agile tariffs which track wholesale prices.

I am not a betting man but I would bet that the OP also has an issue with smart meters.
I could be wrong of course, doubt I am though.

I am sure the OP, with their finger to the pulse of global energy markets, will already be on a wholesale-tracking tariff. It would be crazy - almost unthinkable - for them not to be.

matt_drummer

QrizB said:

I am sure the OP, with their finger to the pulse of global energy markets, will already be on a wholesale-tracking tariff. It would be crazy - almost unthinkable - for them not to be.

With their insight and in view of the massive scandal and giant con I would imagine that the have gone direct to source and secured their own supply at the `real' price.

TheElectricCow

goldConsidered said:

This is a massive scandal.

Over the last year wholesale gas prices have plummeted 72%; wholesale electricity by 85%!

Why are consumer groups not saying a word about this massive scandal that is destroying our economy and society?

Have you tried buying your next year’s worth of energy at these cheap wholesale prices then?

Please do let us know how that goes, if all works as you say I think you’d be on to a pretty big money saver here!