First-half results will anger consumer groups that have campaigned over treatment of vulnerable customers
It really is astonishing they’ve all been able to get away with these excessive profits. Ofgem has been hopeless!
It’s not astonishing, it’s calculated. Listen to the media when doctors ask for a pay rise. They’re told they’re being greedy and that it’s “not reasonable” to ask for £20 an hour.
Meanwhile the billionaires think that it IS reasonable to put up energy bills 200%+ and increase food prices beyond anything seen in previous generations.
I do agree, but this is why we have a regulator. They approved loads of new energy companies that would have failed stress tests, which we’re paying for when they all went under and they should be setting a reasonable price cap.
Just to put this into context for some people:
The UK’s biggest energy supplier reported profits of £969m for the first six months of 2023, up nearly 900% from £98m in the same period last year.
Profits up nearly 900%. Fucking disgusting.
Almost £900m taken from people’s spending power. Money that could have been used to make lives better, like higher quality food, holidays, housing, transport.
It’s not even “higher quality”. This profiteering is forcing British families into severe hardship. We have something like 2 million children living in poverty. All while some foreign corporation is ringing the cash registers.
“We expect profit levels to fall back significantly moving forward to the reasonable and modest levels allowed for in the price cap,”
Forgive me for believing with all my heart that there shouldn’t be a profit motive when it comes to essential energy.
Oil the guillotines, chaps, prepare them well.
Oh the multiplication effect is so interesting