Agreed Ofgem not fit for purpose, there comes a point when people can't afford the cost. This goes back to Thatcher selling off everything for a short term gain. Cameron cancelling nuclear power stations and wind farms even not supporting a wind generator company. It's biting us hard now.
The time has come for govt to intervene in utilities. They are a cash cow for foreign-owned business and states.
They could half this cost to the UK population with legislation.
Some areas of endeavour must not be allowed to become about profit over purpose.
How do they expect economic growth if we are all giving everything we earn to energy and water in order for the fat cats to profit? They can't jeep taking from the working population until nothing is left to give. Revolution time.
Labour promised to get a grip on these unsustainable price rises & so far they have completely failed to do so. This is exactly the sort of stuff that people remember & vote on - look at the price of eggs in the USA as an example. Labour need to get their shit together & fast.
OFGEM board members have publicly quit stating the organisation doesn't represent the customers' interests and yet this hasn't rung any alarm bells in 2 govts
In the UK everything is pegged to the price of gas, the falling price of renewables is not factored in. That, and successive governments spend more time looking after the profits of the fossil fuel companies than UK consumers.
Energy companies have been reported as having seen a £457 billion pounds increase in profits.
Shell alone has reported its highest profits in 115 years.
There is no excuse for this increase, it’s blatant profiteering aided by Ofgem.
Ofgem is not fit for purpose.
Labour need to pull their finger out.
I fixed my electricity a few months ago and I got quite excited by a huge £500 credit on my British Gas account. When my next bill cycle appeared, of course that credit disappeared 😒
This is going to lose Labour the next election.
A pity, as they have been making some progress in other areas.
Even insular Brits are becoming aware that people in other countries are paying far less. Surely the government can do something about this?
OFGEM are working to keep energy companies profits up, not to help the consumer. Labour need to get their shit together over energy prices because this is the sort of stuff that really affects people badly......and will affect their levels of support too. Sort it out FFS!
We need to modify the way the cap is calculated. It should not be based on the most expensive method of production but on a basket of generation methods.
What is the point of Ofgem if the bills just keep on rising in order to give the Shareholders a Fat profit.
Ofgem is surely supposed to stop this profiteering.
Comments
They could half this cost to the UK population with legislation.
Some areas of endeavour must not be allowed to become about profit over purpose.
https://www.bbc.co.uk/news/business-62578614.amp
Could this be due to Nuclear Power?
1,800 is insane
Shell alone has reported its highest profits in 115 years.
There is no excuse for this increase, it’s blatant profiteering aided by Ofgem.
Ofgem is not fit for purpose.
Labour need to pull their finger out.
A pity, as they have been making some progress in other areas.
Even insular Brits are becoming aware that people in other countries are paying far less. Surely the government can do something about this?
The Conservatives had equal levels of inaction so I can't see people flocking to them for social justice. Let's see how Reform spin this...
Ofgem is surely supposed to stop this profiteering.
Not fit for purpose