Scottish Power boss tells government to give £1000 to low income households. We can all pay it back later, he advises.

[flashbac]

I think there has to be better ideas than this:

"Scottish Power has proposed that the government underwrites a “deficit fund” that could allow energy suppliers to cut £1,000 off bills for low-income households. The money would be paid down over a decade by adding £40 a year to all household energy bills. It is hoped that bills would come down over time as wholesale market prices fall back towards historic norms.

Anderson said he had presented his plans to MPs but so far not gained traction."

www.theguardian.com/business/2022/may/09/scottish-power-boss-urges-sunak-to-take-swift-action-on-energy-bills-crisis

I don't like that an energy boss, of a company making huge profits from the crisis, is suggesting something like this, and energy companies get away with it.

I assume his company is making profits for their shareholders? Until they are investing every single penny of profit, only just breaking even, into reducing bills, they have no right to tell the government how to spend taxpayers money.

I came on to write something similar. The energy companies can foot the bill for any gifts / discounts.

Energy companies need to be forced to come together to use some of their profits to help vulnerable households.

I was infuriated hearing this on the radio. As if the twat won't be making more money in profits and bonuses this year than most can ever imagine seeing.

I genuinely hope bad things happen to these morons. I really hope their hit rock bottom and never recover

I saw an interview with octopus energy’s boss. He explained how most suppliers barely break even and a lot don’t turn a profit.
its the energy creators that are making the money. Shell, BP etc.

So been with Scottish power since moved to my place last year.
On a fixed tariff due to end soon.
Have a nice sum of credit currently.
Will not offer me anything below a doubling of our direct debit on and new tariff when their website is predicting based on our past usage, a number that would come no where near double the amount we've paid over the last year.
I don't really understand, numbers are not my strong suit, but something about that seems wrong.
Basically fuck Scottish Power.

So, identified vulnerable consumers get £1000, then everyone pays it back at £40/year for a decade, meanwhile we all pay 5% tax on each unit of energy we consume at these ridiculous and Scottish power divvies up the profits to shareholder whilst mooning on about investments for the future?

Fuck me, at some point it would be cheaper to install a solar array on every single home in the land, surely?

although I do agree the obscene wages and bonus’s shouldn’t be happening.

however that’s the price you pay for privatisation

Cunts. The whole utter lot of them.

Basically new direct debit would be twice the amount of the old one despite what their website is forecasting as our annual spend.

Fuck me, at some point it would be cheaper to install a solar array on every single home

I’ll be honest. I’ve no idea why they don’t. Every new build roof should have to be green or solar.

He's just trying to guarantee some cash from the poorer households by getting it cos the government.

I think energy needs to be nationalised

It is a stupid idea that wouldnt work.

The problem is it will be incredibly hard even if you wanted to do this to identify the "vulnerable" people who need help. Fuel poverty is now going to strike so many more people - it's not just old people and people on benefits now. It's huge swathes of the population beyond that.

£1000 off a bill if you're a student in a bedsit is a huge windfall; it means a lot more than £1000 off a bill for a struggling family that needs to keep light and heat on most of the time time to look after an elderly or sick relative.

And if you are a childminder, keeping your heating on to run your business, you probably won't get captured as "vulnerable" and worthy of a £1000 rebate so you're sure as heck gonna pass that cost on to the vulnerable families obliged to pay for childcare while they go to work.

The only way to solve the problem is to bring the prices down, by state intervention to cap the price increases more effectively and stop the energy companies making so much profit.

I suspect he will be getting nervous about unpaid bills and the cost of chasing payment in court screwing with the profit margin.

How many years would we all be paying this back for though?

So am I getting this right? Low income families would get a £1000 refund whilst the rest of us sub them at £40 a year for the next decade. Er no thanks. I have 2 disabled children and they use a whole hosp ward full of medical equipment between them. We paid £469 for April due to the price rises so goodness knows what the winter bills will be especially with another rise to come. We have to keep the house warm for their health but this month the heating has barely been on and we are nearly at £500 a month in charges now.
There is no help for us and we didn't even get the paltry warm front discount on offer this year as our supplier went bump whilst processing it .
I don't know what they expect people to do to afford it .

The article says over a decade, which is worryingly unspecific.

I snorted at that because it's so true
It's like they're pissing about passing money backwards and forwards and not well, making it any better

Energy companies do not have huge profits. No idea where people get that from. The petrol companies do.

Yeah, no problem Scottish Power. I mean my bill has gone from £75 a month to £265 over the last 3 years so what's another £40 quid a month. I am sure the government will put my teachers salary up to help me out with this soon!

No idea where people get that from.

www.opendemocracy.net/en/opendemocracyuk/uk-big-six-energy-firms-one-billion-pounds-profit-cost-of-living-increase/

This dude sounds as stupid as our esteemed chancellor of the exchequer.

As a lone parent on a low income I am concerned about how vulnerable customers would be identified. I would be scared that people in similar circumstances to myself would just miss out but still have to pay back the money. I am on a tight budget but not in debt, I would live on porridge and dhal before I go into debt.

Regardless of whether Scottish Power are making a profit or not, their CEO does not speak for energy users and should mind his own business.

His interference would never go well, he should know better and be quiet.