Energy crisis solved

[Snooky]

Personally I think it is obscene that we are borrowing this amount of money without clawing any of it back from the energy companies, who are engaged in nothing better than war-time profiteering IMO. We are, or should be, on a war footing and the idea that as a nation we are shovelling an extra £170bn into energy company coffers, many of whom haven't seen a change in energy production costs at all, is bonkers.

Especially when the UK Government subsidised the likes of Shell and BP when they were posting record losses in the previous year or two, right? Oh, hang on....

[jamesbrown]

I think that's how socialism is supposed to work. Your profits are my profits and your losses are your losses.

[BlasterBates]

Especially when the UK Government subsidised the likes of Shell and BP when they were posting record losses in the previous year or two, right? Oh, hang on....

No they weren't subsidised, the shareholders bailed them out. But if the government wants to tax them they won't get very far because the vast majority of their business is overseas. They'll simply wind down their UK operations to a minimum and invest elsewhere.

[mattster]

I think that's how socialism is supposed to work. Your profits are my profits and your losses are your losses.

Would make a pleasant change from privatising the gains and socialising the losses, which is the model we've been operating under for the last couple of decades.

[BlasterBates]

Would make a pleasant change from privatising the gains and socialising the losses, which is the model we've been operating under for the last couple of decades.

That does make a great slogan but actually 90% of business startups fail.

[jamesbrown]

Would make a pleasant change from privatising the gains and socialising the losses, which is the model we've been operating under for the last couple of decades.

Not really, they're both moronic.

[dsc]

it doesn't work like that.

https://www.bbc.co.uk/news/business-58090533

So it's a price cap on what then? cost per mWh? did they just take an average usage over a year for a typical household and said this will cost £2500, then calculated price per mWh?

[PCTNN]

So it's a price cap on what then? cost per mWh? did they just take an average usage over a year for a typical household and said this will cost £2500, then calculated price per mWh?

I would think that's how it works.

Capping everything at £2500 a year would seem in fact unreasonable. Think of all the folks with big, old and energy inefficient houses with saunas that probably spend 4 times as much

[jamesbrown]

So it's a price cap on what then? cost per mWh? did they just take an average usage over a year for a typical household and said this will cost £2500, then calculated price per mWh?

It's the unit cost that is capped (plus the standing charge, I think - could be wrong about that) and then the £2,500 is simply a rough calculation to ease understanding - it takes the usage of the average household and multiplies by the capped components, something like that.

[mattster]

That does make a great slogan but actually 90% of business startups fail.

Total bulltulip and one of those myths/lies that has been repeated so often that people just accept it as true (see also: private companies are run more efficiently than the public sector, you need 5 glasses of water a day, breakfast is the most important meal of the day etc etc). Actually over 80% of new businesses are still going after 5 years.