Energy Companies lie to get prices higher

Energy companies’ reasons for price hikes cast into doubt

Official figures cast doubt on claims by the UK’s biggest energy firms that rising wholesale costs are to blame for their inflation-busting price hikes

Consumers have in recent weeks been hit by price rises of up to 11.1 per cent.
A number of the “Big Six” energy firms have claimed that the increases are because of rising wholesale prices.

However, data from Ofgem, the energy regulator, suggests that wholesale prices rose by only 1.7 per cent over the last year.

The figures, reported in the Financial Times, will prompt fury across the country as homeowners prepare for winter.
According to the analysis, the element of the average energy bill due to wholesale prices would only have gone up from £600 to £610.

However, Ofgem estimates that the energy companies’ average net profit margin has more that doubled over the past year from £45 a household to £95.

Representatives of the companies will face a grilling from MPs in Westminster this week.

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8 Responses to “Energy Companies lie to get prices higher”

  1. Anonymous says:

    And what do our MP’s do to help us, nothing.
    Because they will be on the Company payrolls at some time.
    It’s all a fixed cartel.

  2. Anonymous says:

    Seems funny how the prices have been rocketing and all of a sudden the solution of fracking will save the day and drive the prices down/freeze them….. Cynical I know but how many of our elected have vested interests in “the big six”?

    Just a thought.

  3. Anonymous says:

    Defending her record in Parliament on the day she resigned in 1990, Thatcher spoke in patriotic tones of how, with millions of people buying shares in former state industries, privatisation was giving ‘power back to the people’, and how competition at home and open markets in Europe would free British enterprise to lead the world. Now, in 2012, it’s clear that the result of electricity privatisation was to take power away from the people. Small British shareholders have no influence over the overwhelmingly non-British owners of the firms that generate and distribute power in Britain. The fact that individual households and small businesses can choose to switch from the confusing tariff of one oligopolistic supplier to another doesn’t protect them from sharp, unpredictable swings in prices. In overseas chanceries the Thatcher doctrine came up against ambitious leaders who were no less patriotic, but not so arrogant and naive. Unlike Thatcher, they didn’t assume that if their country levelled its playing field, others would level theirs. The problem with the ideal of competition is that there are winners and losers. The electricity competition has now been held. It is over, and Britain lost. From the point of view of technology and capital, electric Britain is no longer a centre. It is another centre’s province.
    The most unexpected consequence of selling the country’s electric legacy, the consequence that most directly contradicts what the Thatcherites were trying to do, was the gradual absorption of swathes of the industry by EDF. Beginning with the takeover of London Electricity in 1998, exploiting the Thatcherites’ open-door market structures and their decision to split the electricity industry into small, easy-to-swallow chunks, France in effect renationalised the industry its neighbour had so painstakingly privatised. Renationalised it, that is, for France. As well as being one of the six dominant UK suppliers of energy, EDF now owns a fat portfolio of British power stations, including the fleet of nuclear reactors that still provides around a sixth of the country’s electricity.
    Read more:

    The aristocrats cashing in on Britain’s wind farm subsidies
    Growing numbers of the nobility are being tempted to build giant wind farms on their estates by the promise of tens of millions of pounds being offered green energy developers.
    They are among the nation’s wealthiest aristocrats, whose families have protected the British landscape for centuries. Until now that is.
    For increasing numbers of the nobility – among them dukes and even a cousin of the Queen – are being tempted by tens of millions of pounds offered by developers to build giant wind farms on their estates.
    An investigation by The Sunday Telegraph reveals how generous subsidies – that are added to consumer energy bills – are encouraging hereditary landowners to build turbines up to 410ft tall on their land.
    With controversy over onshore wind farms growing, the role of the landed establishment in fuelling the ‘scramble for wind’ will alarm opponents.
    They claim wind farms are blighting the countryside while failing to deliver a reliable supply of electricity despite the cost.
    Latest figures show the amount of electricity generated by UK wind farms actually fell last year because of the lowest average wind speeds this century.
    Read more:

    Renationalise is the answer!

  4. Anonymous says:

    A pal hada huge demand for a bill come in, he quieried this bill and wa stold pay it first then query it,
    he spent several days checking and he found ALL the utility firms were
    owned by a single French holding company, and behind that was one name , Rothschild

  5. Road_Hog says:

    Wholesale gas prices have remained about the same for the last 10 years, they were about the same 6 years ago. However, in the same period, retail prices have risen 50%.

    See section one for the increase in retail and section two for the fairly static wholesale. There are peaks and troughs, but just run your eye from left to right with an imaginary tren line.

  6. Anonymous says:

    Rothschild & Friends

    Go see:-


  7. Nixon Scraypes says:

    Government by the corporations for the corporations.

  8. Anonymous says:

    Cheapest energy in the world?

    imagine a generator running on fuel at 1p a litre

    @ some 25 pence a day for 24/7 power.

    impossible you might say!

    so are we being sold a pup?

    every single one of us.

    & where does all the other money go?


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