Octopus Profiteering!

MeteredOut

Apologies for the clickbait headline.

Octopus record a little over £11 profit per customer in the 12 months to April 2024 (or under £10 if you include non-UK customers)

https://www.cityam.com/octopus-energy-profit-slashed-as-greg-jacksons-giant-battles-rising-costs/

QrizB

£11 per customer? That's almost £1 a month!

😱

Can someone lend me some pearls so I can clutch them?

matt_drummer

I think it's wrong!

They are making £millions and should be absorbing all the outrageous standing charges!

They are at the `trough' like all of the others!

oldernonethewiser

matt_drummer said:

I think it's wrong!

They are making £millions and should be absorbing all the outrageous standing charges!

They are at the `trough' like all of the others!

How much do you think they should be making per customer?

If you are a customer of theirs have you written to them to let them know you disapprove, and will you be taking your business elsewhere?

GingerTim

We need sarcasm tags, it would appear!

mebu60

matt_drummer said:

I think it's wrong!

They are making £millions and should be absorbing all the outrageous standing charges!

They are at the `trough' like all of the others!

You need to contact Ofgem about the 'outrageous standing charges' not the suppliers. It covers fixed costs such as the network infrastructure, smart meter rollout, green levy, warm home discount, etc etc. You could suggest which elements should be discontinued. Octopus' £11 annual profit per customer is not going to touch the sides of a customer's standing charges. 

GingerTim

We definitely need sarcasm tags! Keep reeling them in, Matt.

Tony5896

Only making £3 per month from my family .. less than a super market .. I’m not gonna worry

debitcardmayhem

I wonder when the next click bait comes from, “Tomatoes are sold at a loss, pay you to take them”
😱

matt_drummer

oldernonethewiser said:

matt_drummer said:

I think it's wrong!

They are making £millions and should be absorbing all the outrageous standing charges!

They are at the `trough' like all of the others!

How much do you think they should be making per customer?

If you are a customer of theirs have you written to them to let them know you disapprove, and will you be taking your business elsewhere?

I think they should make a lot more!

I am a very happy customer!

I have an Octopus heat pump, an Octopus EV charger and pay 7p per kWh for all my electricity.

I guess you need to be a regular reader of many of the ridiculous posts that some people make to understand that it was a `joke'

I know full well that these companies make very little from selling energy, some others don't!

luvchocolate

I am very grateful to them for making up my lost winter fuel payment.