How Has British Gas Been Allowed To Make So Much Profit?
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- เผยแพร่เมื่อ 14 ต.ค. 2024
- British Gas has reported a tenfold increase in profits for 2023, reaching £750 million, up from £72 million in 2022.
The surge is attributed to regulator Ofgem permitting the recovery of £500 million in losses incurred after Russia's invasion of Ukraine. Despite record profits for oil and gas firms during the energy price spike, suppliers inheriting customers from failed retailers faced significant losses.
Ian Collins speaks with Simon Francis from the End Poverty Coalition.
#news #finance #money #fuel #gas #talktv #talkradio
The biggest joke was the electric daily standing charges at least doubling overnight. More corruption
Exactly 💯 it's adds up aswell, even if you not on pay as you go! They've found a way to charge you, by creating the "smart meter" you didn't use to pay if you was billed, it's all one big wealth pot, that the rich are sat rubbing there hands together, ppl with know ❤ just a greedy state of mind.
Wholesale gas prices are down to what they were five years ago. Domestic price should be half what they are. Ofgem is useless.
Ofgem has proven to be a corrupt organisation and should be arrested for crimes against the people
It proves that energy companies are ripping off customers.
It's foreign owned, we only have one owned by 🇬🇧 now "I think" its Scottish Power, so everything we once owned, they've sold off bit by bit, helping all their wealthy friends.
GREEEEED is how!! How can you NOT, know that???
The Tories are pro capitalist
Will we all be getting a massive refund bonus then ???? 😎
No, because your're not in france, and therefore a pushover 🤣
Good luck with that . I gave them nothing and changed providers after the bills they were sending me . Absolute scumbags they are !
The people at ofgem should be held accountable
Ofgem is not on the side of the people (who are paying their salaries - just to rub salt into the wound).
Tories know people are easily distracted and genuinely more angered by people on boats than hundreds of pounds being robbed from them each month
These lot know EXACTLY what they’re doing. Think of it from their point of view getting educated in Eton, Cambridge, LSE etc. The average working person like you and me isn’t going to know f all about politics or economics but will turn on the news to see what’s going on in our country. If they can propagate that immigrants coming in are pricing us out of homes and are economic burdens (when they really don’t affect us in the grand scope of things if at all) then owners of gas companies, supermarkets, sunak, hunt, ultra wealthy old money families, russian oligarchs, owners of our railways etc. etc. etc. can continue to exploit us and make more money because its time we learned THEY HAVE NO HONOUR OR INTEGRITY. THEY HAVE NO BALLS. THEY. DONT. CARE.
British Gas are far and away the worst with their customer service too
No customer service.cant contact them. It's all deliberate
Sickening
Greed greed greed and they make more excuses then a school child
Why would people in power allow this to happen!!!, especially being aware that the people are suffering!!!!
Greedy and selfish. Who do you think the major shareholders in that 144 million payout will be.
They arent in power for anyone but themselves.
ofgem are obviously on the pay roll in some way ,
Because money and power is all they love
I thought protectionism wasn’t allowed. Since when should a private companies losses be recouped like this. They could have aimed to recoup it over a 10 year period.
Allowed to act like a cartel.
WAKE UP change the government, VOTE REFORM or watch them all go up and up!!!!!
British Gas is a business accountable to their share holders, bonuses for the management team and to the tax man so their not interested in the customer.
Because the government allowed it to happen and will continue to letting it happen
And ofgem who are supposed to be looking After the interests of the public who needs enemies when they are already here
Standing charge should be incorporated into the KW/Hour price. That way if you have a well insulated house and use less you pay less. Currently if your house is poorly insulated and you have a swimming pool, the more you waste the cheaper it gets. The price of gas sky rocketing should not mean power by wind farms is more expensive. Why have so many energy 'suppliers' that are really billing companies. Despite paying their bosses huge payments so many went bust that we now have an added burden of up to 6 billion to our bills.
dont put nothing away , spend it all
Ofgem is a comp,ete joke , i thought it was their to protect the consumer , who i is taking a back hander
Because its a private company
Even now they are defending privatisation
Power, corruption and lies.
Disgusting, profiting while people suffer
I've had huge problems even getting a bill! Trying to get hold of customer services is hell!
Refund bonus. Like the sound of that.
simple......brown envelopes
Obviously Ofgem has shares in British Gas!
This is a complete non story, the price cap and SOLR mechanism forced the strongest suppliers into huge debt, OFGEM had to let them recover the losses of 2021/2 by keeping the prices high, and even raising the price cap (whilst protecting customers over the winter).
Nationalisation of a supplier, would not stop this happening, even if all existing suppliers folded to the national one. Then losses could be absorbed by national debt... the interest on which is similar to british gas operating profits...
It makes no difference who owns the supply, fuel poverty is a wealth distribution problem like taxation, not a privatisation problem.
I’ll tell you why because they underestimate everyone’s bills then send them extortionate bills on releasing their utter incompetence ! They are the absolute Worse provider out there. It’s absolutely vile what they get away with. I refused to pay the last bill the sent me , I gave them what my average was and then changed providers. They sent me a bill last year for a quarterly paid amount of nearly £900 pound !! 😂 My heart was in my mouth on opening the letter ! My annual Cost wasn’t far from that figure ! They are so incompetent it’s laughable. My last bill was close to £700 pound ! 😂 it’s just so unbelievably ridiculous you have to laugh. You can totally understand how they’re making profits on ridiculous scales like that as it’s very likely the elderly will just pay these bills without question. They are absolute scumbags
I demand a rebate!
plus they have a head quarters in South Africa so there dodging tax the harry redknapp way but wait didnt he get prosecuted for it.
Robbers
Tory government, take from the poor, give to the rich
Why are top bosses paid astronomical salaries? Rewarded for failure.
Don't forget the government on purpose
Im wish british gas and my bills have more than doubled but soon as ive lowered my dedt more im gone
Privitised businesses that should be yaken back, like most private businesses just rip off the consumer should never privitise these industries.
Legalised extortion with the myth that Ofgem has our backs😂😂.
So How much gas was Ukrainian supplying to the uk.🤔.
i am 10,000kw over electric . ill keep going
Should have bought some of their shares
Tories👎
And even these videos are capitalists as he said himself they love whats going on really this is there wet dream
utter disgrace .
Are you sitting comfortably..I generally pay my by paper bills. I receive a paper bill if it's correct I pay it at the post office. For some reason they have switched me onto an online account,which I haven't got on an email address which was terminated in July 2017. I haven't got the internet at home and have to rely on free WiFi. I can't email them to complain as they don't monitor emails and If I phone I can't understand what they are saying. so consequently I haven't had a bill for 4 months even though I want to pay.
Same issue! They also changed their bank details without informing me! Trying to talk to anyone is a joke!
Re: "How Has British Gas Been Allowed To Make So Much Profit"?
Yer avin a larf, Talk TV.
One word: cartel
Oh do stop the moaning. Those who are in charge know what's best for us . 🤪🤡🖖
Easy people keep willingly donating money to them 🤐🤯 the bill is what they owe you people WAKE-UP!!!
Because money and power is all they love