To think the new energy price cap is more evidence that this govt don’t care about people in the UK?

[picturethispatsy]

So they have taken away the £66 per month they supplemented households last year plus they allow the energy firms to announce HUGE £1.7 billion profits for 2023. But they are still feeding us the line ‘supplies are affected by the Ukraine war’!!

AIBU to think they are taking the piss?

https://www.independent.co.uk/news/uk/home-news/martin-lewis-ofgem-warning-bills-b2452342.html

Big profits
https://www.independent.co.uk/news/business/energy-bills-profits-british-gas-b2388968.html#

Get ready to pay a lot more this winter 😠

I thought it was the war in the middle east that is causing the price hikes this time. The £66 a month was a one off for everyone last year, I doubt the government can afford it again. Pensioners are still getting hefty winter fuel payments and others on means tested benefits have had cost of living payments recently.

Well it could be any war couldn’t it. Just whatever they tell us.

You sound like you are ok with the crazy price hikes? What do you think about the £1.7bn profits announced for 2023 from the energy companies?

There's another thread going on the same topic. I think someone said it's about a 10% hike in bills ? Yes agree the profits are obscene.
No-one likes prices to rise but it doesn't seem anywhere like as bad as last year, except of course that the £67 a month isn't being given which I guess makes it seem worse.

Please could you link to it?

What I don’t understand is why the government don’t step in to stop the energy companies profiteering from us.

Wholesale prices have risen due to war with Israel/Hamas. The price cap has risen by £100 a year, but prices are expected to fall again in April.

Everyone knew that the Government help last year was a one off.

That £1.7bn profit is because they sell an incredibly high level of units. Not because the markup is high.

If you sell billions of things and only make 1p profit on each on you'll still make a lot of money.

If they decided not to make any profit, you'd barely notice a difference in your energy bills. You might save a fiver over a couple of months.

Let's assume the £1.7bn profit is all from domestic energy supply.

67 million people in the UK. £1.7bn over 67m people = £25 per person, over an entire year. So the grand total of £2 per month per person.

Bottom line it that it's not their profits causing our energy bills to go through the roof.

Energy prices increasing from January | Mumsnet

But you're not looking at profits on domestic energy, you're looking at company profits, which primarily are earned from infrastructure.

The margin on domestic energy is incredibly small, but the volume of customers is vast, which is how profits are made.

The support last year was always a one off. I don't think a 5% increase is massive, but I appreciate that for those on low incomes it is. But then the cost of living payment and winter fuel allowance is intended to ease the burden of it, surely?

The Tories dont care. They just get the Daily Mail , Express, Sun and Telegraph to keep pumping out propaganda claiming everything is getting better.

You beat me to it :)

You can't force foreign countries and foreign companies to sell us gas cheaply. The price has gone up because the global price has gone up and we're reliant on foreign imports.

It's ludicrous given the amount of natural resources we still have. There is enough coal in the ground to provide us with cheap energy for decades, there's just no political will to use it.

The choice is cheap energy or clean(er) energy. We can't have both - either we have to use the resources we have to have cheap energy or we need to accept prices will be high for decades whilst we invest in green energy and buy gas in the meantime.

(Edit) Actually I'd go further, the choice is kill our own citizens today because they can't afford to heat their homes, or kill other people in the future because of climate change. The narrative we're meant to accept is that British=Bad therefore our lives today are not worth as much as other peoples' in the future.

The Tories have demonstrated so many things where they don't care, it would be quicker to list where they do.

This is what a private energy sector looks like.
If you don't like it, energy needs to be a public good.

It’s not energy suppliers that are making profits. The margins for domestic supply are tiny and I’m sure you remember how many went out of business due to losses. The profits are made by the companies selling energy to the market, not those buying it at market prices and selling it to you.

OP if you are struggling to pay your bills then a thread saying that might be more useful than an angry rant about capitalism.

No one has taken away the £66 a month, it was made abundantly clear from the start that it was one off help

Do you have proof that energy companies make huge profits on selling domestic energy? The accepted story is that they dont