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Britain - The Official Thread
- Thread starter Ross
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The thing with the energy costs is, now correct me if I'm being to simplistic here.
But if the wholesale costs have gone up, so the caps have gone up...
Energy corps profits should be at best static right?
Any profits, are IMO profiteering.
If i buy something for £1 and was selling it for £2 i make £1 profit.
If in the cost of living crisis I say I need to up my sale price to £4 because it now costs me £2 to buy my product, I'm profiteering right?
I should be selling it for £3 and have same profits.....
I also am aware that energy corps purchase energy in advance as much as 5 years in advance with Gas.
And British Gas (centrica) also produce Gas.
Whichever way I look, they are capitalising on this to a degree which is extremely unsavoury.
Same with petrol etc.
And the other bizarre twist is that UK PLC is raking it in via taxes on duty and taxes off the business's etc.
But if the wholesale costs have gone up, so the caps have gone up...
Energy corps profits should be at best static right?
Any profits, are IMO profiteering.
If i buy something for £1 and was selling it for £2 i make £1 profit.
If in the cost of living crisis I say I need to up my sale price to £4 because it now costs me £2 to buy my product, I'm profiteering right?
I should be selling it for £3 and have same profits.....
I also am aware that energy corps purchase energy in advance as much as 5 years in advance with Gas.
And British Gas (centrica) also produce Gas.
Whichever way I look, they are capitalising on this to a degree which is extremely unsavoury.
Same with petrol etc.
And the other bizarre twist is that UK PLC is raking it in via taxes on duty and taxes off the business's etc.
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- GTP_Sprite
Technically yes, profiteering by increasing your profit margins at a time like this is.
However that’s a little tricker as the cost has gone up but tariff prices have gone up in accordance with the price cap.
Simple example is…
Pre price cap cost per kWh = £0.10
The regulator increase the price cap due to rising cost and this is now capped at £0.15 per kWh.
New post price cap cost per kWh = £0.15
The costing and profiteering comes prior to the price cap at the trading level and this is after the generation.
So..
1- Energy Generation / Gas production / Gas importation
2- Energy Trading
3- Energy sale to the end user
It’s step 2 which is the biggest issue, because this is where a large chunk of profit is made buying and selling at wholesale to the end suppliers. The biggest issue I have is when you get a all three stages lumped into 1 company and unfortunately all major suppliers use that model to boost profit for their shareholders.
The price cap was OFGEMs way of curbing those profits, however it had a big impact on small suppliers who couldn’t compete because they didn’t operate in this model and also didn’t keep their books in order.
Over the last 12 months I’ve been dealing with what we call SOLR (Supplier of Last Resort) when these smaller companies have gone bust and OFGEM have appointed us as the new supplier for their customer base.
It’s been an absolute cluster ****. They only held small groups of customer in the grand scheme of things larger we have dealt with was about 180,000 customers. Most of these poor souls have had issues one way or another, either they had a credit on their account which was wrong, we’re being chased for debt which was wrong, never agreed to switch to that supplier in the first place so now is stuck between a rock and a hard place. It’s been a nightmare for customers.
So what’s the best way out of this mess? The government need to step in and take some control. The issue is the energy market is about 3% (close to rounded) of the UK GDP. The government don’t want to rock that boat in fear of loosing out because they won’t be able to profiteer half as much as these private companies and the kickbacks and other shady dealings will also go so MPs will struggle to get some extra pocket money.
There are arguments for both ways either private or government run, same as all utilities and public transport. People want value for money and either way we won’t get it. So I have no solution apart from if you have the money, invest in energy companies. Short term it’s a poor return for your money, however once dividends start to be paid out again you’ll get some money back towards those costs.
Maybe that’s a solution? As an energy purchaser your chosen supplier gives shares in their company each year as a loyalty bonus thus putting something back into the pockets of end users. If then you choose to sell these at a later date that’s ok to do.
It could be simplified to make everything easier for the average Joe to understand.
Sorry for the rant, as you say, yes companies are profiteering but they always have and will continue, while it’s in poor taste to do so, there isn’t a legal thing that can be done.
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Truss gets it. A leader in time of national crisis, elected by 81,326 people who are likely to be those least affected by the national crisis... <0.2% of the country or electorate.
... and she's already said Boris got Brexit done. Welcome to a new dawn of the same old ****.
**** Thatcher cosplayer.
... and she's already said Boris got Brexit done. Welcome to a new dawn of the same old ****.
**** Thatcher cosplayer.
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HenrySwanson
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The drinks are on me!
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Farage's second favourite word that's largely composed of the letters "G", "I", and "N".
Anyway, some reactions flopping through my timeline:
Edit: Lol
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Tired Tyres
Premium
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- Tired Tyres
Well, racist middle England have spoken, and now we have Boris mark two as prime minister.
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I don't see how or why she would call am election except for grand omniscience that it will be the best thing for the nation...
The Conservatives have a large majority and no need to have an election until 2024. It's going to take mass dissent in the ranks that stops any of Truss' policies going through for her to be forced to call an early election to try and replace some of those MPs, or get some new ones elected who would be on her side.
What would we get from an election though? Do Labour look like a competent force that could win an election? Do we really want a coalition government if not - especially if one of those parties begins with "S" and ends with "NP"? What happens if the Conservatives win the election again?
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We're f-ked. Truss me daddy.
- 437
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- merseyxshore
I would actually argue that it's the Starmer faction who have concentrated on internal battles. They've concentrated most of their efforts on destroying the Labour left rather than being a viable opposition party. I actually can't think of a more intense and orchestrated character assassination than that of Corbyn during the 2019 general election.
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- Fezzik1983
the Blairites should've supported Corbyn when he was leader. the corbynites should support Starmer now he is the leader.
stop fighting each other, whoever's in charge is better than the Tories and, for better or worse, under the current system the Labour leader is the only alternative. even the devil himself Blair would be better than Truss.
then once he's in charge they can have an internal putsch and install someone more to their liking.
HenrySwanson
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There's rumours Dorries and JRM will still be in the cabinet.
There's only so much damage all these twits can do in 2 years....right?
There's only so much damage all these twits can do in 2 years....right?
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Pie nails it again. 
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One piece of good news - the Truss premiership begins with Priti Patel's resignation.
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HenrySwanson
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Lol.
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I honestly wouldn't be surprised if the Right Honourable Member for the 19th Century was appointed as the minister for education, because totaler Kulturkampf = kurziger Kulturkampf.
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Was curious why Truss gushed about Boris 'my mate', i mean he hasn't died, he was booted out of office hence why she takes over.
If he was as good as she said he was, why did he go and why is she now in charge?
She said he got brexit done, he hasn't, she said he stood up to Putin, well Putin still controls Europe via energy.
So she starts her Premiership with 2 lies in the first 5 mins...
She is like a cardboard cut out of a female human made in a school project.
If he was as good as she said he was, why did he go and why is she now in charge?
She said he got brexit done, he hasn't, she said he stood up to Putin, well Putin still controls Europe via energy.
So she starts her Premiership with 2 lies in the first 5 mins...
She is like a cardboard cut out of a female human made in a school project.
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I, for one, welcome our new animatronic overlord.
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Dorries is out, but likely to get bunged a seat in the Lords by BJ
