God help those with little income this winter.
'Do nothing'? The correct answer is renationalise with no compensation to shareholders.
'Do nothing'? The correct answer is renationalise with no compensation to shareholders.
True.Agree with the sentiment but that's not really advice Martin Lewis could provide.
And how would this reduce energy bills? The problem is the wholesale cost of gas!'Do nothing'? The correct answer is renationalise with no compensation to shareholders.
Payment strike? It's not the energy companies fault the wholesale price of gas has gone up 500%. People are losing their jobs in the energy industry, which has been on its backside for years. They'll be losing money at the price cap, it's just the max they can charge for "average use". It was designed to protect people on SVR deals, not factoring in situations like this.
If the energy firms were nationalised they'd still have to charge these amounts because the gas is coming from abroad and needs paying for
What would you like ofgem to do about the global price of natural gas?The just in time model the big 6 energy firm's turned to and relied on to make the most money for their shareholders in times of low gas prices does not help their cause in playing poverty when it reverses.
Ofgem is useless and not fit for purpose, they are overseeing the collapse of the energy sector and had no plans in the event of high wholesale prices of the scale we are seeing now, leaving the consumer picking up the tab.
But we are where we are and more must be done to help those who are and will soon be in fuel poverty.
What would you like ofgem to do about the global price of natural gas?
Absolutely nothing as its not in their remit. I would like a more thoughtful government policy around things like this and maybe consider them national assets.What would you like ofgem to do about the global price of natural gas?
What? You do realise the price cap means that they are currently losing money hand over fist? Consumers are currently being subsidised!Was this something that was completely unforseen? They could have put in many ways to mitigate against such rises in times when they were so low, if not gas storage then a fund from profits to offset the rises.
They serve the consumer, not or rather supposedly not, the energy companies. They have done nothing as billions are paid to shareholders and now consumers are wide open to every penny of the rise in gas prices.
Again, how would this have helped? Gas prices have gone up by around 400% in months! It's a global issue.Absolutely nothing as its not in their remit. I would like a more thoughtful government policy around things like this and maybe consider them national assets.
What? You do realise the price cap means that they are currently losing money hand over fist? Consumers are currently being subsidised!
Again, how would this have helped? Gas prices have gone up by around 400% in months! It's a global issue.
The government should be stepping in to make sure everyone can heat their homes without sacrificing other necessities. How they do that with caps or monthly credits for poor families doesn't really matter. You are, of course, right about years of profit and the energy suppliers should foot the bill for any measures. I don't really mind how it is funded, so long as nobody goes cold this winter.You completely missed the point. Decades of multi billion pound profits and the consumers get screwed over at the first sign of a profit loss.