Energy Company Profits

I seem to be getting more and more wound up lately, especially so after reading the daily news (taking it out on members of this forum isn't helping either ), but it seems that everything about society stinks when it comes to money. I mean take this story for instance...

Plans for £5.4bn Argyll Array offshore wind farm near Tiree dropped

What annoys me about the above isn't the fact that the plan was dropped but that ScottishPower Renewables (SPR) were able to front such an amount in the first place. Ok they are using green technology to acquire the energy but even so they don't seem to be passing the savings on to the customer else they wouldn't be making so much dosh. I mean £5.4bn is a lot of spare cash and you can bet the other energy companies are similarly flush.

Maybe I have the wrong end of the stick and without such amounts they couldn't expand but never-the-less that is an awful lot of money and it must have come from consumer pockets.

Re: Energy Company Profits

Big business will rarely pass on savings to their consumer if the consumer is in a weak position - that's what gave rise to the co-operative movement in the first place. Many of them claim to putting profit's back into improving the company but if that is so, why does the UK still rely heavily on a sewage system built by the Victorians and the rail network is still one of the worst in Europe. The profits go to the shareholders, simple as that.

Re: Energy Company Profits

I don't read or listen to anything to do with the whole energy scandal anymore Mark, it upsets me too much, the greed goes on completely unbridled, the companies have become more powerful than any government and we are now entirely at their mercy, they can charge anything they wish and we will have to pay it, the whole thing depresses me, and I am not easily depressed.

Re: Energy Company Profits

One thing may console you Jem (it certainly amuses me) is that they timed their price hike (as always) at the costliest time of year for consumers - then we have one of the mildest autumns and winters for a long long time; that gives me a certain amount of satisfaction. Thank goodness they can't control the weather!

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How true Kal - like it !

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A lot of what I read on BBC News depresses me lately . I suppose most news is just that - bleeding depressing.

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Not much of a comfort but in this day and age, we have to take what we can for as long as it lasts

The temptation to ring up the energy companies and just laugh down the phone is sometimes sooooo tempting

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What I learnt the other day is the big 6 have been collecting money off all their customers to help the poorest people to insulate their homes but apparently they haven't used a lot of the money, it is just sitting there.

I am with one of the smaller energy companies so i don't contribute to this 'fund'.

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Think it because the green taxes of about 8% on all are bills have been stopped on orders of the Gov to reduce are bills.

Love the way you lefties twist things

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Took the quote below off a Gov web site, the money must be spent on green issues and not into the profits of the energy companies.

Now the Gov has taken over the 8% that the companies charged in green taxes the point is mute


The Government, energy suppliers and local authorities all provide grants to help you implement energy saving measures. The best place to start is the Government's Energy Saving Trust (EST). It has an advice and information helpline on 0300 123 1234 (more info for Scotland and Northern Ireland).