How Power Companies Profited From Italy's Lockdown
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- เผยแพร่เมื่อ 6 ก.พ. 2025
- When Covid hit Italy, energy prices tanked. But power traders found a way to score a 600% price surge. More than a dozen Italian power companies used a practice that raked in hundreds of millions of euros in premiums.
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This is the type of news I want to see more of
A whole lot of talking and not saying anything? You want to hear about energy companies sitting on oil until the price goes back up? Or was it the part where he said peoples bills weren't effected that really intrigued you? I found it lame and boring as hell but better than the doom and gloom that is the usual news I guess.
Now do the UK, it's going to be a long video ;)
Fascinating how we looked back the pandemic where we missed
Well seeing how he said it didn't effect anyones bills and it was perfectly legal what is there to miss?
These are the facts, by how this secondary market works? which companies have exploit this sistem? feels like an half of reportage
In Australia our genius leaders sold our electricity infrastructure under the "privatisation will create competition and better prices" dogma. Now another country owns it and we are being held to ransom with prices when energy is falling out of the sky for free. Our system is such a mess, it should be forbidden for a politician to sell off something that took generations to create.
I'm an Australian engineer and I have been trying to explain that since 2016 when I had a small project into Australia's future energy needs.
The single biggest problem we have is that engineers get no say. Just this week I saw the ABC 7:30 report on one story and they had 3 experts and they were all economists. Over on Sky same thing. If you look at the CSIRO report it was written by economists. If you look at the LNP report it was done by British Economists.
The idea to privatise everything came from economists. For somethings it might be a success, but for infrastructure, water and electricity its been a disaster all across the World. To cover up their mistake economists are grabbing the microphone at every opportunity and NOT letting anyone else speak or be heard.
Did you know that the recent CSIRO report on nuclear was done by economists?
Did you know that the recent LNP report on nuclear was done by economists?
Did you know that our energy regulator is dominated by economists?
Did you know the government advisors, Think Tanks energy experts and energy consultants are all economists?
Amazing video😊
Kudos on the individual who chose the intro beat. 😎
so where else they did they send this electricity ?
documentary too short. there are a lot more to this story than the 8 minutes here.
They are doing the same thing in the Netherlands , what they did with me i got charged twice a month , and when I asked them why are you charging me twice they couldn't answer me !!!! And I can show with my bank statements that they did so . Now I have to go to lawyer to get my money back and I don't know how much it is going to cost me .
You guys power prices are some of the most expensive on earth. ⚡💡💀
I wonder if this happened in other countries….
😉
Solo italia ,todos los gobiernos han trasladado sus costos a la población ➡️ yaya han descubierto la rueda pues en el siglo XXI
If you can form cartels with waste management, you should also be able to do same with power generation
Well thats 7ish minutes of my life wasted. A whole lot of talking without saying anything other than "in 2010 they were caught" in a video about how these "market players were making money during the pandemic" and my favorite "it didnt effect anyones bill". Ok so some market players got over on other market players. Who cares been happening as long as there has been a freaking market.
water, power, gas and many more things that are part of developed countries have been overlooked and almost imagined as public services that anyone should be entitled to but they are in fact products supplied by companies who want to make profit. These companies can virtually eliminate costs overnight which gives them all the power and control on how much to charge you for their product.
I guess you missed the part where he said customers bills weren't effected. You people are making it sound like they jacked up everyone's bills lol
@@bradsanders407 it's not something that happens suddenly. they are all natural resources so their expenses are machinery and personnel. in north america there are numerous instances of monopolistic and price gouging behavior while not improving quality or service. the execs are raking in growth in profits and or buying back shares or extracting more resources per dollar which further gives confidence in the company so the share values increase so their net worth increases all in a self felating nature while people complain about high prices for goods but are forced to still buy from the same companies because they have worked very hard to eliminate choice and competition. In this world it makes sense to charge people the most you can until you meet resistance and then hold your increases or pull back just enough to appear charitable. You can't be surprised by the behavior of the ultra rich because every person has, does, or would take similar strategies to get what they want for the least amount of input. so in the end, no they didn't jack up the bills but over the last decades they have raise prices 3 or 4 % while their costs have maybe raised 1% and if you plot those out on a graph you would notice a widening gap between the two lines all while wages have barely increased 2% yoy.
This is essentially what’s happening in South Africa too under the guise of “loadshedding”
Shameless greed and profiteering
Let's not forget that the pharma companies are the ones who truly benefitted from the pandemic
not really, so did Amazon, TH-cam, the luxury market and many other industries who were suddenly in a sweet spot when the population was locked up and saving money.
Cash in by the expenses of someone else plight- isn't it the moto of current global economy/leaders?!?
i looked into the Uk's end of quarter energy report. I found it very weird that plant's suddenly went into stop for reasons absurd as "covid proof environment" for up to 2 whole months.
when called out in public, they get fined 0.00001% of it.
They should change fine system with percentages instead of numbers
we are all still paying for it now
Viendo este video, entran sospechas sobre la subsidiaria Italiana de Enel en Chile. El oresidente de Chile en ese entonces fue descubierto haciendo negocios durante pandemia en otros rubros. Ahora el precio de la energía esta por las nubes debido a contratos que se firmaron por esos años.
To be a great doctor! :)
some numbers would have helped understand the actual size of the problem😅
Dubs are better than subs ! Some ppl are blind
Crime on humanity and nobody will answer for it. Everyone who obliged has contributed to the system they complain so much about.
MicroGrids solves Italian Problems. Better not to have a PowerGrid and collapse the Italian Economy. The Energy Costs and Prices are low with the MicrosGrids.
È imbarazzante quanto sia basso il livello di inglese di un professore universitario
El argumento de que mantener la energía fuera del mercado encarece su precio es ilógico, almacer la energía o deperdiciarla sería menos beneficioso económicamente qué venderla aunque sea barata
GODS LAWS WORK!!!!!!! LIVE THEM!!!!!! EVERYONE!!!!!! REPLAYS PLEASE!!!!!! TRUTH AND LOVE!!!!!!!!!!!!!!!
I was too young, when the Enron saga happened... does this sound similiar to Enron?
No. Enron didn't even offer a product.
if i remember correctly, enron was more of an accounting fraud. Here they are ganging up to make it a monopoly during certain time if the day
Just ask the chinese government
As an Italian, i wonder why was it in Naples and not in Trento. I guess you can't teach an old dog new tricks🤦
Itally banned nuclear energy and are now using carbon taxes to make coal artificially uneconomic. So of course power is going to be outrageously expensive.
In capitalism corruption acts as a lubricant. Without corruption it can stuck
Yeah thats definitely why companies prefer to operate in non corrupt countries
That's crony capitalism. That's not OG capitalism
slow down there Karl Marx
Electricity prices in the Soviet Union were the equivalent to 93 cents per kilowatt-hour in current, inflation adjusted US dollars, almost double the currently most expensive electricity on earth in Germany and Denmark.
Wow a company profiting hugely during a time of crisis. That's capitalism working exactly as it was designed.
Can you imagine that you have a product and you sold it to the client that paid more for it? Fantastic. Usually like the author of this video you sell your products and labour at the cheapest prices and now this.
That's nothing. Check out how they do it here in Ukraine
They Get PowerFrom BOMBS!,