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British Gas generates mega mega profits
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By *al kal OP Man
over a year ago
london |
Almost 10 times their previous record.
How does that sit with you?
As the energy crisis unfolded and costs spiralled higher, energy suppliers generated more profit. The Ofcom energy cap formula in its current guise, let’s this happen. |
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By *TG3Man
over a year ago
Dorchester |
They are all making colossal profits at our expense we just have to live with it, Barclays bank has shut down so many of its branches and announced recently their profits just in one banking area are up £1.8billion on last year  |
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I won’t hold my breath for our marvellous government using their share of any extra tax received to provide grants or substantial tax cuts for people to install solar panels, enhanced insulation and other energy reduction systems which will cut down the need to use BG and their friends  |
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By (user no longer on site)
over a year ago
|
"I'm off to get a job with british gas.
That. Can't beat them - join them. 
T.
Ps. Who knows. Might have a staff discount. "
Then get in with a director and I'm quids in!!
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By (user no longer on site)
over a year ago
|
"I'm off to get a job with british gas.
That. Can't beat them - join them.
T.
Ps. Who knows. Might have a staff discount.
Then get in with a director and I'm quids in!!
"
All the intel too. |
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So just over a year ago we were told by all the energy companies that the price for producing energy gas and electricity would be more expensive for the customers in the coming year.
Now it’s been revealed how much profit they are making it’s seems inconceivable that nobody from government or opposition is asking the question on profiteering like they did with supermarkets.
My questions to the CEO of British Gas would be
If you have increased your company profits ten fold can you explain how this has occurred.
I would say that only two ways are possible
Point one would be us the customer are using far more energy that we did the previous year or point two
As a company you have hiked prices to way beyond where they should be .
If it’s point one then please show us data on the energy usage as a whole by your customers as opposed to the previous year
If it’s point two I can’t wait to hear the
fable you’re going to come up with
To the common old garden consumer if your previous years profits are say 700 million then with the cost of producing and supplying energy has increased for your company by 50 per cent and you have to pass this on to the consumer then how is it if the consumer is using the same amount of energy your company profit is not around the 700 million mark but way higher |
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By *oggoneMan
over a year ago
Derry |
"I'm off to get a job with british gas.
I wonder what they pay employees. "
Centrica did a massive job shedding program in the last 10 years and did a fire and rehire for many of it's engineers about two years back |
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By *al kal OP Man
over a year ago
london |
"So just over a year ago we were told by all the energy companies that the price for producing energy gas and electricity would be more expensive for the customers in the coming year.
Now it’s been revealed how much profit they are making it’s seems inconceivable that nobody from government or opposition is asking the question on profiteering like they did with supermarkets.
My questions to the CEO of British Gas would be
If you have increased your company profits ten fold can you explain how this has occurred.
I would say that only two ways are possible
Point one would be us the customer are using far more energy that we did the previous year or point two
As a company you have hiked prices to way beyond where they should be .
If it’s point one then please show us data on the energy usage as a whole by your customers as opposed to the previous year
If it’s point two I can’t wait to hear the
fable you’re going to come up with
To the common old garden consumer if your previous years profits are say 700 million then with the cost of producing and supplying energy has increased for your company by 50 per cent and you have to pass this on to the consumer then how is it if the consumer is using the same amount of energy your company profit is not around the 700 million mark but way higher "
Scrutinise the “regulated” price cap formulae. Profit is proportional to total costs in the calculation. So as costs increased during the crisis, the margin skewed upwards. Seems flawed. |
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"So just over a year ago we were told by all the energy companies that the price for producing energy gas and electricity would be more expensive for the customers in the coming year.
Now it’s been revealed how much profit they are making it’s seems inconceivable that nobody from government or opposition is asking the question on profiteering like they did with supermarkets.
My questions to the CEO of British Gas would be
If you have increased your company profits ten fold can you explain how this has occurred.
I would say that only two ways are possible
Point one would be us the customer are using far more energy that we did the previous year or point two
As a company you have hiked prices to way beyond where they should be .
If it’s point one then please show us data on the energy usage as a whole by your customers as opposed to the previous year
If it’s point two I can’t wait to hear the
fable you’re going to come up with
To the common old garden consumer if your previous years profits are say 700 million then with the cost of producing and supplying energy has increased for your company by 50 per cent and you have to pass this on to the consumer then how is it if the consumer is using the same amount of energy your company profit is not around the 700 million mark but way higher
Scrutinise the “regulated” price cap formulae. Profit is proportional to total costs in the calculation. So as costs increased during the crisis, the margin skewed upwards. Seems flawed."
It seems to me it would have been much easier going the French way and only allowing them to increase bills by 4 to 6 per cent and then take on the debt as a country like with covid
Plus businesses would still be operating making money and paying tax
And I dare say the U.K. government would scrutinise the bill they are given as opposed to not looking at anything at the moment |
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By (user no longer on site)
over a year ago
|
"Almost 10 times their previous record.
How does that sit with you?
As the energy crisis unfolded and costs spiralled higher, energy suppliers generated more profit. The Ofcom energy cap formula in its current guise, let’s this happen. "
That's what they do ...every company see's and are only concerned about the bottom line ...every company like that are only legalized extortionists....money ...money ..money ...it's their God . |
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By *al kal OP Man
over a year ago
london |
"So just over a year ago we were told by all the energy companies that the price for producing energy gas and electricity would be more expensive for the customers in the coming year.
Now it’s been revealed how much profit they are making it’s seems inconceivable that nobody from government or opposition is asking the question on profiteering like they did with supermarkets.
My questions to the CEO of British Gas would be
If you have increased your company profits ten fold can you explain how this has occurred.
I would say that only two ways are possible
Point one would be us the customer are using far more energy that we did the previous year or point two
As a company you have hiked prices to way beyond where they should be .
If it’s point one then please show us data on the energy usage as a whole by your customers as opposed to the previous year
If it’s point two I can’t wait to hear the
fable you’re going to come up with
To the common old garden consumer if your previous years profits are say 700 million then with the cost of producing and supplying energy has increased for your company by 50 per cent and you have to pass this on to the consumer then how is it if the consumer is using the same amount of energy your company profit is not around the 700 million mark but way higher
Scrutinise the “regulated” price cap formulae. Profit is proportional to total costs in the calculation. So as costs increased during the crisis, the margin skewed upwards. Seems flawed.
It seems to me it would have been much easier going the French way and only allowing them to increase bills by 4 to 6 per cent and then take on the debt as a country like with covid
Plus businesses would still be operating making money and paying tax
And I dare say the U.K. government would scrutinise the bill they are given as opposed to not looking at anything at the moment "
EDF is nationalised in France I believe. Any U.K. customers are contributing to profits that leads to subsidies for the French energy consumer (and keeping their bills lower). Food for thought.
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"So just over a year ago we were told by all the energy companies that the price for producing energy gas and electricity would be more expensive for the customers in the coming year.
Now it’s been revealed how much profit they are making it’s seems inconceivable that nobody from government or opposition is asking the question on profiteering like they did with supermarkets.
My questions to the CEO of British Gas would be
If you have increased your company profits ten fold can you explain how this has occurred.
I would say that only two ways are possible
Point one would be us the customer are using far more energy that we did the previous year or point two
As a company you have hiked prices to way beyond where they should be .
If it’s point one then please show us data on the energy usage as a whole by your customers as opposed to the previous year
If it’s point two I can’t wait to hear the
fable you’re going to come up with
To the common old garden consumer if your previous years profits are say 700 million then with the cost of producing and supplying energy has increased for your company by 50 per cent and you have to pass this on to the consumer then how is it if the consumer is using the same amount of energy your company profit is not around the 700 million mark but way higher
Scrutinise the “regulated” price cap formulae. Profit is proportional to total costs in the calculation. So as costs increased during the crisis, the margin skewed upwards. Seems flawed.
It seems to me it would have been much easier going the French way and only allowing them to increase bills by 4 to 6 per cent and then take on the debt as a country like with covid
Plus businesses would still be operating making money and paying tax
And I dare say the U.K. government would scrutinise the bill they are given as opposed to not looking at anything at the moment
EDF is nationalised in France I believe. Any U.K. customers are contributing to profits that leads to subsidies for the French energy consumer (and keeping their bills lower). Food for thought.
"
I suppose in the extreme Kai
If the government find proof of profiteering the windfall tax should reflect in total by going back to the previous year’s profits
IE
if it was 700 million profit
And a year later it’s 2.3 billion profit
Then the new windfall tax should be 1.5 billion
Either that or if you’re CEO of the said company you can choose to go to prison in the main population for a full 12 months
From a consumers point of view it looks like blatant profiteering so they can pay the dividend to the French owners paid for by the gullible British
I’ll go out on a limb and say that the above I’ve mentioned if it ever happened would only happen once  |
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