Reply to: So Cameron will force Electricity providers to switch customers to cheapest tariff

[DodgyAgent]

You didn't answer the question! Should there be SOME body which protects people from the forces of pure capitalism?

Absolutely

[EternalOptimist]

You didn't answer the question! Should there be SOME body which protects people from the forces of pure capitalism?

I dont think so. I think we need something to stop pure capitalism going wrong. some correcting mechanism.


for example the bankers should have been operating to maximise profits and ensure the survival of the business. thats the theory. In practice they seized control of the remuneration process and started to operate to maximise their own bonuses and packages.

When it stays on track, it works ok

[d000hg]

If only The government were competent enough to do this
Also bear in mind that the government have their own agenda which comes before any objective adiministration of the electricity markets.

I am really astonished why people seem to think that we have a virtuous body (government) to fall back on whenever we hear of some nasty business or person committing something that offends us.

You didn't answer the question! Should there be SOME body which protects people from the forces of pure capitalism?

[vetran]

AFAIR 20% is for green energy.
I would assume most of the companies are doing a 'Starbucks' and paying royalties / consultancy fees to a tax haven.

have a look here :

Energy price statistics - Department of Energy and Climate Change

QEP221.xls & QEP561.xls

[DodgyAgent]

DA as our resident right-wing mouthpiece, do you think it is good/right/appropriate for a government to protect people from getting ripped off in general?

If only The government were competent enough to do this
Also bear in mind that the government have their own agenda which comes before any objective adiministration of the electricity markets.

I am really astonished why people seem to think that we have a virtuous body (government) to fall back on whenever we hear of some nasty business or person committing something that offends us.

[d000hg]

DA as our resident right-wing mouthpiece, do you think it is good/right/appropriate for a government to protect people from getting ripped off in general?

[BlasterBates]

The headlong rush into renewable energy will increasingly make even more expensive. Basically they will have to build two networks, one to provide renewable energy and a second one of fossil fuelled power to be able to supply when renewables are not delivering.

This is going to be horrendously expensive, and as someone pointed out on a German TV programme, not only is electricity going to get expensive everything else will too as they need more expensive energy to make them.

It won't get that far of course as people realise they're being drven into abject poverty.

...and of course the more expensive electricity gets the more they'll argue we have to go faster into renewables. Reminds me of the 1970's when leftwing politicians argued that leftwing policies weren't working because they weren't sufficiently leftwing.

Sad really.

[DodgyAgent]

The margin isn't 5% though, it is between 40% and 80% higher than that.
In the first half of the current year, the margin earned by British Gas - that is profit as a percentage of sales - was 7.2%, compared with 6.9% in the first six months of last year, and 8.9% in the whole of 2010.

Looking around for the lowest prices; as someone pointed out is a waste of time, they are much of a muchness and as they fluctuate between cheapest and most expensive, any savings are soon wiped out. The whole system is no better than a price fixing cartel.

You have no evidence that it is a price fixing cartel (though it may be) but continued interference by the government will not make things any better. Statutory prices will remove what competition there is and make the suppliers sloppy in the delivery of services.
The real problem is the cost of not having a sensible energy policy that produces cheap electricity. We have an incompetent government and bleeding heart environmentalists to blame for that.

[ZARDOZ]

British gas margins are 5% hardly greedy. The problem is that people are too lazy to shop around and look for the lowest prices. They prefer to moan instead, and this stupid government (who like labour have no understanding of how business works) pander to it.

The margin isn't 5% though, it is between 40% and 80% higher than that.
In the first half of the current year, the margin earned by British Gas - that is profit as a percentage of sales - was 7.2%, compared with 6.9% in the first six months of last year, and 8.9% in the whole of 2010.

Looking around for the lowest prices; as someone pointed out is a waste of time, they are much of a muchness and as they fluctuate between cheapest and most expensive, any savings are soon wiped out. The whole system is no better than a price fixing cartel.

[hyperD]

Feck me, Xogg's right.

It used to be about 245V in here, but I've just measured it at 221V.

The bastards are stealing our electricity! Fry them!

[doodab]

I don't mean a business which caters to laziness, but one which relies on laziness.

I think it's a general trend these days. Presumably allocating ones finite resources to attracting new customers generates more profit than retaining most of existing ones.

[DodgyAgent]

If your business model relies on customer laziness, your business is crap.

How do UK contractors ever get work then?

[d000hg]

When do they have to have such a bemusing array of tariffs?

Did you mean 'why'? Well for a start the old tariffs still exist while people are using them so that means there are always loads floating around.

Then there are genuinely different use cases so for one person a higher £/KWh with lower standing price is cheaper, etc.

Plus fixed rates which are just like fixing your mortgage.

[d000hg]

That could cover anything from labour saving household appliances through cars to restaurants, takeaways and ready meals. Even Amazon.

I don't mean a business which caters to laziness, but one which relies on laziness.

[xoggoth]

Don't know if anyone has use a multimeter on their elec recently but our "240V" system is actually only 220V. The bastards snuck in an 8% drop in voltage and hoped nobody would notice.