I am puzzled why the energy price cap has to rise so much in view of the vast profits energy companies are announcing. I thought the cap was set so that they could make a reasonable profit on the energy they sold without ripping off consumers. Or are producers exempt from restrictions?
Price cap
- Thread starter jj4091
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Wholesale prices keep rising.
Yes I understand that, but if British wholesalers are selling to a British market place why can't the price they sell at be capped.
The companies that extract the gas make the massive profit. The part of the company that then sells it make a smaller profit.
The price cap has to work for companies that just resell gas, not just owner and resellers. And almost all the resellers took a beating due to the previous price cap and the very high costs. That's why so many smaller ones went bust.
A windfall tax on excessive profits for the extraction companies would allow some of it to be siphoned off and used to subsidize consumers. Rishi copied the labour plan for that, but then gutted it with a provision for investment that essentially wiped it out.
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Centrica "just sells it" - profits risen five-fold to £1.34 billion. Woo woo.
With 22 million customers it could afford to give them all say 50 quid. Which most would hardly notice.
Dividend is 1p a share, which you may have bought at 40p or 80p... not very woo.
This lot need taxing though: https://www.theguardian.com/business/2022/may/13/oil-gas-producers-first-quarter-2022-profits
With 22 million customers it could afford to give them all say 50 quid. Which most would hardly notice.
Dividend is 1p a share, which you may have bought at 40p or 80p... not very woo.
This lot need taxing though: https://www.theguardian.com/business/2022/may/13/oil-gas-producers-first-quarter-2022-profits
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If I remember correctly Centrica bring gas ashore from the Irish see ( or at least they used to ) so it appears to me that they are in a position where they cannot lose. I wonder if the threat of nationalisation might make them change their attitude ( prices ). If the French can manage to provide reasonable energy prices the I don't understand why we can't.
Centrica do not just sell it i suggest you look at what centrica actually is and its various divisions and where that 1.34 billion profit actually came from the vast majority certainly didnt come from sale of gas directly to the end user
I seem to think it was as much to do with poor regulation & bad management. But I understand what you are saying.
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Yes dear, we know the bills don't say Centrica on them. I was quoting the post above, sorry too hard for you.
They don't getthe stuff out of the ground though, do they.
centrica dont get stuff out the ground ! really would you like to check that and check the profit that division makes or is that too hard for you
Quite a bit of both.
I'm glad I fixed my my gas and electric price for two years at £127 a month last October just before prices started going silly. Currently we're £212.27 in credit. Just got to hope OVO don’t go pop!
£127 a month seems sod all compared to what they are projecting things to cost.
£127 a month seems sod all compared to what they are projecting things to cost.
D
Deleted member 18243
Bring back coal.
Indeed.
With such eye-watering profits, Shell should invest more in low-carbon transition
Shell could afford to allocate far greater sums to investment but is choosing not to do so
www.theguardian.com
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