British Gas profits massively up
Discussion
crankedup said:
Blackpuddin said:
We're on one of them locked in deals with BG as we thought it would be less painful. Last month we had a note through saying they'd been monitoring our usage (funny, thought that's what they were doing all the time) and they'd have to increase our monthly D/D from £110 a month to £160 a month, effective immediately. Oh yes, and you're £120 in debit. How? What? Who? Eh? etc
From my experiences more and more companies are testing the customer with this 'we need to increase your D/D/' line. Of course they would love to look after your money for you, just another trick in the Corporate book.
djglover said:
for me questions to ask here before frothing in a daily mailesq way are
1)How does the cost of heating with Natural gas compare to fuel oil.
2)Is there a cheaper deal through U switch
3)Are you happy with a british company making profits to be invested in a) your pension and b) future energy supply
4)Are margins of 3/4% unfair on Energy compared to say 10% or more for BA or Tesco?
5)How does the cost of fuel compare to other EU markets.
If you research all these points, you would probably conclude that things aint that bad after all, and yes I do work in the industry
I disagree that the margins are acceptable, considering the sales volume and the effective cartel, even though Tesco's margins are obscene I do have a choice, and can alter my lifestyle at will, however I can't with my energy supplier.1)How does the cost of heating with Natural gas compare to fuel oil.
2)Is there a cheaper deal through U switch
3)Are you happy with a british company making profits to be invested in a) your pension and b) future energy supply
4)Are margins of 3/4% unfair on Energy compared to say 10% or more for BA or Tesco?
5)How does the cost of fuel compare to other EU markets.
If you research all these points, you would probably conclude that things aint that bad after all, and yes I do work in the industry
Blackpuddin said:
crankedup said:
Blackpuddin said:
We're on one of them locked in deals with BG as we thought it would be less painful. Last month we had a note through saying they'd been monitoring our usage (funny, thought that's what they were doing all the time) and they'd have to increase our monthly D/D from £110 a month to £160 a month, effective immediately. Oh yes, and you're £120 in debit. How? What? Who? Eh? etc
From my experiences more and more companies are testing the customer with this 'we need to increase your D/D/' line. Of course they would love to look after your money for you, just another trick in the Corporate book.If them having more funds to play with in the short term helps lower costs to me on the long run, whether it be by allowing them to buy more future stocks at a cheaper price, or to invest in tech that will reduce the price of the stuff that comes through the pipe, I don't mind them having it. They're going to get it one way or t'other anyway.
djglover said:
for me questions to ask here before frothing in a daily mailesq way are
1)How does the cost of heating with Natural gas compare to fuel oil.
2)Is there a cheaper deal through U switch
3)Are you happy with a british company making profits to be invested in a) your pension and b) future energy supply
4)Are margins of 3/4% unfair on Energy compared to say 10% or more for BA or Tesco?
5)How does the cost of fuel compare to other EU markets.
If you research all these points, you would probably conclude that things aint that bad after all, and yes I do work in the industry
1) oil is dearer because it costs more. The oil suppliers don't make more than the gas suppliers in terms of profit, though they both do exploit near monopolies in some areas.1)How does the cost of heating with Natural gas compare to fuel oil.
2)Is there a cheaper deal through U switch
3)Are you happy with a british company making profits to be invested in a) your pension and b) future energy supply
4)Are margins of 3/4% unfair on Energy compared to say 10% or more for BA or Tesco?
5)How does the cost of fuel compare to other EU markets.
If you research all these points, you would probably conclude that things aint that bad after all, and yes I do work in the industry
2) Not truly, no. I recently dumped BG as my electricity supplier. The only cheaper, or indeed significantly different either way, supply was only for a relatively short fixed term. Most quotes were very similar. Clearly little true competition.
3) What are you on about? There are no 'British companies making profits to be invested' in my or anyone else's pension fund.
4) Given the different markets and volumes, yes they are.
5) Before taxes, UK energy costs are 10% above the EU average and given the greater need for energy in our climate, far more significant a cost on average. Why does our government feel it is necessary to lower taxes on energy, when other countries don't?
So things are pretty bad actually; many of our energy suppliers operate very poorly and have very poor customer service yet they make almost obscene profits that are not, in the main, reinvested.
I see nothing beings done in the foreseeable and feel any faith in our energy industry would be sadly misplaced. I've had a GSHP installed, I am super insulating my property and will soon be looking at my own generation. Along with my own water supply and effluent treatment, I am a good way along the road to reducing my reliance on these suppliers, which I long since realised was misplaced.
God help those who can't do what I have done.
We have amongst the best energy prices in Europe. It's actually fallen approx 50% since privatisation.
dig in: http://www.energy.eu/
(Still, we should nationalise it because it would be better. Or something.)
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