How Power Companies Profited From Italy's Lockdown
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- เผยแพร่เมื่อ 14 ต.ค. 2024
- 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 ;)
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.
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?
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.
These are the facts, by how this secondary market works? which companies have exploit this sistem? feels like an half of reportage
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. ⚡💡💀
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.
I wonder if this happened in other countries….
😉
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.
If you can form cartels with waste management, you should also be able to do same with power generation
This is essentially what’s happening in South Africa too under the guise of “loadshedding”
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
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.
energy markets should be banned.
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.
Shameless greed and profiteering
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.
Crime on humanity and nobody will answer for it. Everyone who obliged has contributed to the system they complain so much about.
To be a great doctor! :)
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.
Dubs are better than subs ! Some ppl are blind
some numbers would have helped understand the actual size of the problem😅
we are all still paying for it now
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🤦
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
Wow a company profiting hugely during a time of crisis. That's capitalism working exactly as it was designed.
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.
GODS LAWS WORK!!!!!!! LIVE THEM!!!!!! EVERYONE!!!!!! REPLAYS PLEASE!!!!!! TRUTH AND LOVE!!!!!!!!!!!!!!!
That's nothing. Check out how they do it here in Ukraine
They Get PowerFrom BOMBS!,