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British Gas generates mega mega profits

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By *al kal OP   Man
over a year ago

london

Almost 10 times their previous record.

How does that sit with you?

As the energy crisis unfolded and costs spiralled higher, energy suppliers generated more profit. The Ofcom energy cap formula in its current guise, let’s this happen.

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By (user no longer on site)
over a year ago

Hmm I think should advise my kids to aim for careers in oil and energy heh.

Tones

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By *TG3Man
over a year ago

Dorchester

They are all making colossal profits at our expense we just have to live with it, Barclays bank has shut down so many of its branches and announced recently their profits just in one banking area are up £1.8billion on last year

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By *lenderfoxMan
over a year ago

Leeds

Only strengthens calls for a more robust windfall tax

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By *atnip make me purrWoman
over a year ago

Reading

I saw that. Totally disgusting.

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By *aitonelMan
over a year ago

Travelling

Stop using their product. That will show them.

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By *elvet RopeMan
over a year ago

by the big field

I won’t hold my breath for our marvellous government using their share of any extra tax received to provide grants or substantial tax cuts for people to install solar panels, enhanced insulation and other energy reduction systems which will cut down the need to use BG and their friends

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By (user no longer on site)
over a year ago

I'm off to get a job with british gas.

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By (user no longer on site)
over a year ago


"I'm off to get a job with british gas. "

That. Can't beat them - join them.

T.

Ps. Who knows. Might have a staff discount.

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By (user no longer on site)
over a year ago


"I'm off to get a job with british gas.

That. Can't beat them - join them.

T.

Ps. Who knows. Might have a staff discount. "

Then get in with a director and I'm quids in!!

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By (user no longer on site)
over a year ago


"I'm off to get a job with british gas.

That. Can't beat them - join them.

T.

Ps. Who knows. Might have a staff discount.

Then get in with a director and I'm quids in!!

"

All the intel too.

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By *ad NannaWoman
over a year ago

East London


"I'm off to get a job with british gas. "

I wonder what they pay employees.

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By *urhiddendesireCouple
over a year ago

Darlington

So just over a year ago we were told by all the energy companies that the price for producing energy gas and electricity would be more expensive for the customers in the coming year.

Now it’s been revealed how much profit they are making it’s seems inconceivable that nobody from government or opposition is asking the question on profiteering like they did with supermarkets.

My questions to the CEO of British Gas would be

If you have increased your company profits ten fold can you explain how this has occurred.

I would say that only two ways are possible

Point one would be us the customer are using far more energy that we did the previous year or point two

As a company you have hiked prices to way beyond where they should be .

If it’s point one then please show us data on the energy usage as a whole by your customers as opposed to the previous year

If it’s point two I can’t wait to hear the

fable you’re going to come up with

To the common old garden consumer if your previous years profits are say 700 million then with the cost of producing and supplying energy has increased for your company by 50 per cent and you have to pass this on to the consumer then how is it if the consumer is using the same amount of energy your company profit is not around the 700 million mark but way higher

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By (user no longer on site)
over a year ago


"Only strengthens calls for a more robust windfall tax "

Would you trust the government not to piss this away?

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By *lenderfoxMan
over a year ago

Leeds


"Only strengthens calls for a more robust windfall tax

Would you trust the government not to piss this away?"

Probably still preferable than just going to shareholders

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By *oggoneMan
over a year ago

Derry


"I'm off to get a job with british gas.

I wonder what they pay employees. "

Centrica did a massive job shedding program in the last 10 years and did a fire and rehire for many of it's engineers about two years back

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By (user no longer on site)
over a year ago

Cant we just all become shareholders and fleece them that way. Im sensing a catch though.

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By *al kal OP   Man
over a year ago

london


"So just over a year ago we were told by all the energy companies that the price for producing energy gas and electricity would be more expensive for the customers in the coming year.

Now it’s been revealed how much profit they are making it’s seems inconceivable that nobody from government or opposition is asking the question on profiteering like they did with supermarkets.

My questions to the CEO of British Gas would be

If you have increased your company profits ten fold can you explain how this has occurred.

I would say that only two ways are possible

Point one would be us the customer are using far more energy that we did the previous year or point two

As a company you have hiked prices to way beyond where they should be .

If it’s point one then please show us data on the energy usage as a whole by your customers as opposed to the previous year

If it’s point two I can’t wait to hear the

fable you’re going to come up with

To the common old garden consumer if your previous years profits are say 700 million then with the cost of producing and supplying energy has increased for your company by 50 per cent and you have to pass this on to the consumer then how is it if the consumer is using the same amount of energy your company profit is not around the 700 million mark but way higher "

Scrutinise the “regulated” price cap formulae. Profit is proportional to total costs in the calculation. So as costs increased during the crisis, the margin skewed upwards. Seems flawed.

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By *urhiddendesireCouple
over a year ago

Darlington


"So just over a year ago we were told by all the energy companies that the price for producing energy gas and electricity would be more expensive for the customers in the coming year.

Now it’s been revealed how much profit they are making it’s seems inconceivable that nobody from government or opposition is asking the question on profiteering like they did with supermarkets.

My questions to the CEO of British Gas would be

If you have increased your company profits ten fold can you explain how this has occurred.

I would say that only two ways are possible

Point one would be us the customer are using far more energy that we did the previous year or point two

As a company you have hiked prices to way beyond where they should be .

If it’s point one then please show us data on the energy usage as a whole by your customers as opposed to the previous year

If it’s point two I can’t wait to hear the

fable you’re going to come up with

To the common old garden consumer if your previous years profits are say 700 million then with the cost of producing and supplying energy has increased for your company by 50 per cent and you have to pass this on to the consumer then how is it if the consumer is using the same amount of energy your company profit is not around the 700 million mark but way higher

Scrutinise the “regulated” price cap formulae. Profit is proportional to total costs in the calculation. So as costs increased during the crisis, the margin skewed upwards. Seems flawed."

It seems to me it would have been much easier going the French way and only allowing them to increase bills by 4 to 6 per cent and then take on the debt as a country like with covid

Plus businesses would still be operating making money and paying tax

And I dare say the U.K. government would scrutinise the bill they are given as opposed to not looking at anything at the moment

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By (user no longer on site)
over a year ago


"Almost 10 times their previous record.

How does that sit with you?

As the energy crisis unfolded and costs spiralled higher, energy suppliers generated more profit. The Ofcom energy cap formula in its current guise, let’s this happen. "

That's what they do ...every company see's and are only concerned about the bottom line ...every company like that are only legalized extortionists....money ...money ..money ...it's their God .

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By *al kal OP   Man
over a year ago

london

[Removed by poster at 27/07/23 16:02:42]

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By *al kal OP   Man
over a year ago

london


"So just over a year ago we were told by all the energy companies that the price for producing energy gas and electricity would be more expensive for the customers in the coming year.

Now it’s been revealed how much profit they are making it’s seems inconceivable that nobody from government or opposition is asking the question on profiteering like they did with supermarkets.

My questions to the CEO of British Gas would be

If you have increased your company profits ten fold can you explain how this has occurred.

I would say that only two ways are possible

Point one would be us the customer are using far more energy that we did the previous year or point two

As a company you have hiked prices to way beyond where they should be .

If it’s point one then please show us data on the energy usage as a whole by your customers as opposed to the previous year

If it’s point two I can’t wait to hear the

fable you’re going to come up with

To the common old garden consumer if your previous years profits are say 700 million then with the cost of producing and supplying energy has increased for your company by 50 per cent and you have to pass this on to the consumer then how is it if the consumer is using the same amount of energy your company profit is not around the 700 million mark but way higher

Scrutinise the “regulated” price cap formulae. Profit is proportional to total costs in the calculation. So as costs increased during the crisis, the margin skewed upwards. Seems flawed.

It seems to me it would have been much easier going the French way and only allowing them to increase bills by 4 to 6 per cent and then take on the debt as a country like with covid

Plus businesses would still be operating making money and paying tax

And I dare say the U.K. government would scrutinise the bill they are given as opposed to not looking at anything at the moment "

EDF is nationalised in France I believe. Any U.K. customers are contributing to profits that leads to subsidies for the French energy consumer (and keeping their bills lower). Food for thought.

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By *2000ManMan
over a year ago

Worthing

If there is profit in gas, might start eating more eggs, cabbage and curry.

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By *al kal OP   Man
over a year ago

london


"Cant we just all become shareholders and fleece them that way. Im sensing a catch though. "

You would get 1.33p dividends per share.

Current share price roughy 133p.

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By *urhiddendesireCouple
over a year ago

Darlington


"So just over a year ago we were told by all the energy companies that the price for producing energy gas and electricity would be more expensive for the customers in the coming year.

Now it’s been revealed how much profit they are making it’s seems inconceivable that nobody from government or opposition is asking the question on profiteering like they did with supermarkets.

My questions to the CEO of British Gas would be

If you have increased your company profits ten fold can you explain how this has occurred.

I would say that only two ways are possible

Point one would be us the customer are using far more energy that we did the previous year or point two

As a company you have hiked prices to way beyond where they should be .

If it’s point one then please show us data on the energy usage as a whole by your customers as opposed to the previous year

If it’s point two I can’t wait to hear the

fable you’re going to come up with

To the common old garden consumer if your previous years profits are say 700 million then with the cost of producing and supplying energy has increased for your company by 50 per cent and you have to pass this on to the consumer then how is it if the consumer is using the same amount of energy your company profit is not around the 700 million mark but way higher

Scrutinise the “regulated” price cap formulae. Profit is proportional to total costs in the calculation. So as costs increased during the crisis, the margin skewed upwards. Seems flawed.

It seems to me it would have been much easier going the French way and only allowing them to increase bills by 4 to 6 per cent and then take on the debt as a country like with covid

Plus businesses would still be operating making money and paying tax

And I dare say the U.K. government would scrutinise the bill they are given as opposed to not looking at anything at the moment

EDF is nationalised in France I believe. Any U.K. customers are contributing to profits that leads to subsidies for the French energy consumer (and keeping their bills lower). Food for thought.

"

I suppose in the extreme Kai

If the government find proof of profiteering the windfall tax should reflect in total by going back to the previous year’s profits

IE

if it was 700 million profit

And a year later it’s 2.3 billion profit

Then the new windfall tax should be 1.5 billion

Either that or if you’re CEO of the said company you can choose to go to prison in the main population for a full 12 months

From a consumers point of view it looks like blatant profiteering so they can pay the dividend to the French owners paid for by the gullible British

I’ll go out on a limb and say that the above I’ve mentioned if it ever happened would only happen once

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