How can they justify expected energy price increases of 40% this winter?

Question

Energy minister has said today that gas & electricity could rise by as much as 40% this winter. At the same time British gas parent company Centrica has stated that it's on track to make profits of 1.9 BILLION pounds this year. How on earth can they justify the energy price increases when they are making so much money, and why do they always have to "pass on" these increases to us - the customers? Why can't THEY swallow them for a change?

Answer 1

Greedy profitmongers as always.

Answer 2

Exactly and why did we sell our oil to Europe when it was cheap last summer and now allow them to sell it back to us at hugely inflated prices?  This Government has totally lost control of everything and we are being fleeced right  left and centre.  Just look at the lower tax rates in Europe. Just bring on that referendum and we can follow Ireland with a NO.

Answer 3

Ida darling, best to hold a lighted match to your f**t. It's the cheapest energy you can get, let's see them put 40% on that, LOL

Apart from the fact that British Gas is going to make 1.9 billion this year, did you ever look at how much of the profit is re-invested in finding new sources of natural gas?  Where do you think the money comes from to do the exploration?

Also, if they gave all their profit back to customers, it would amount to a few pounds each. Remember domestic users are only a very small part of British Gas income. Commercial and industrial users account for most of their sales and most of their profit.

Now live and learn children

Answer 4

Because the greedy bast*rds can do what they like they know everyone needs Gas & electric.

there is nothing anyone can do about it................ other than say stick ure bulls up your ar*e and not pay them.  Now there is a fault if everyone stopped paying there bills what a turmoil that would leave them in,

Answer 5

Get the candles stocked up  it,ll be just like christmas day every day! All twinkly lights

Answer 6

The Profiteer is a magnificent fellow.

Answer 7

If gas rises 40%, then VAT receipts rise 40% too.

How can these corporate criminals justify the rise? By knowing our Government will welcome this WINDFALL STEALTH TAX.

Answer 8

cos there greedy funking bar-stuards....

Answer 9

They don`t have to justify it, they just TAKE.

Answer 10

Isn't is odd that when oil and gas prices rise, the increased energy costs are spread onto wind, nuclear and solar energy as well? In fact they even charge more for hydropower in some countries, which have ONLY hydropower, because the benchmark is set by the most expensive coal fired power stations, and when hydropower is exported, it goes at the "market price".

Note "market price", not the cost of production, as markets are prime targets for speculators. Hence costs are inevitably going to be passed on to consumers.

Answer 11

we got the same stuff going on here in america.  it sucks.  pretty soon we wont even be able to  afford to f**t.

Answer 12

Profit, loverly fat profit.

Might be a good time for the Chancellor to apply ''Windfall Taxes'' to these companies rather than soak/fleece the very people he is SUPPOSED to represent.

Answer 13

They cannot be justified. They are the result of speculation, pure and simple. Why do they not swallow the increases? Because they have paid for pay rises and bonuses for the CEOs of the energy companies.

http://www.spiegel.de/international/worl...

http://www.spiegel.de/international/0,15...

Answer 14

So the Fat Cat bosses can keep all their bonuses. They don't even need to pay for petrol, even for personal use. Hope the Government slaps a massive windfall tax on them and spends it on insulating all our homes, so we all use less energy and their profits plummit.