British Gas - £570m Profits Reported

SwanJon

JohnG wrote: »

And another thing, British Gas isnt even British!

British Gas is British, as are Scottish & Southern, and some smaller ones.
E-on (was Powergen) & nPower are German
EDF is French (and majority state owned)
Scottish Power is Spanish.

Doesn't help your arguments if you make up the facts as you go.

alared

ALL these energy companies need a thorough investigation by a European commision.

We know companies need to make a profit, but to make an obscene amount such as this, and then to rub people`s faces in it by announcing big price rises, is way over the top.

SwanJon

biv wrote: »

The profit figure isn't actually that big when you consider how large a company is, and the number of customers it serves - other energy companies are actually even more obscene and less generous to vulnerable customers.

It'd be only fair to comapre it on that basis.
The report says they have 10 million gas customers and 6 million electricity customers = 16 million.
£571 million/16 million customers = £35.69 profit/customer.
(2006 would have been £5.94 profit/customer)
Anyone got any other figures to add?

tillson

Peolple will continue to to hand their cash over to BG, they will continue to put up with the appalling customer service, they will be happy to take incorrect advice from them and buy un-necessary insurance and service contracts. I believe that people would still stay with BG if they put their prices up by another 15%. Quite depressing really.

Cardew

biv wrote: »

The profit figure isn't actually that big when you consider how large a company is, and the number of customers it serves - other energy companies are actually even more obscene and less generous to vulnerable customers.

But wait - "profit! burn them! burn them all!!". :rolleyes:

Agreed.

2 years ago when BG made a loss there wasn't this outpouring of grief!

I wonder why BG are singled out for such criticism and not all the other privatised Utility companies - including water and for that matter BT.

The Government privatised the Utility companies(selling off the family siver as Super Mac called it) and that is what privatised companies do - maximise profit!!

If it is deemed that profit is excessive then the Government should take the Regulater to account - or re-nationalise the Utility companies.

I believe that BG made 40 pounds profit per customer this year - which is approx 4% of an average annual bill. So even if BG made no profit it wouldn't mean a huge cut in Gas/Electricity bills.

So instead of these howls of protest, what is your solution?

alared

Seems BG can`t lose.

It makes huge profits and puts it`s prices up.

It makes huge losses and puts it`s prices up.

What it`s 16 million customers should do is

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switch, as a protest, but I`m afraid, Tillson in post number 15 is probably correct.

Cardew

Well of course all BG customers could all switch to an excellent non-profit making company like Ebico.

The only flaw I can see in that plan is that for most customers Ebico is more expensive than profit making BG!!

alared

http://www.ebico.org.uk/website2008/pages4/a_about.php

icefall

alared wrote: »

http://www.ebico.org.uk/website2008/pages4/a_about.php

extract from the above

'Why do people choose Ebico? Many choose us because our prices are cheaper for them.'

Ebico are cheaper for me and for many happy customers on this site just do a search for Ebico on this site to find them. Their customer service is second to none, they have no confusing tariffs unlike some companies. And are non profit making.

I do notice that its been mentioned quite a few times on this board (in fact repeatedly) that Ebico are supposed to be more expensive for some customers and usually mentioned in statements from people that are not with Ebico and never have been, so how would they really know for themselves that this is the case I wonder...

JohnG

SwanJon wrote: »

British Gas is British, as are Scottish & Southern, and some smaller ones.
E-on & Powergen are German
EDF is French (and majority state owned)
Scottish Power is Spanish.

Doesn't help your arguments if you make up the facts as you go.

Cheers SwanJon,

I wasn't "Making up facts" as you so kindly put it, it was merely my understanding that they were Spanish owned so I stand corrected if that is not the case and, in future I will endeavour to check the facts first -OK?

Having said that, I'm still not totally convinced as I believe they are owned by Centrica which may or may not be British? I'm sure someone in the know will confirm one way or the other.