What’s that saying again, Privatising the profit and nationalising the losses?
How will it cost the tax payer more when its the tax payer using and paying for it!? Regardless of angle, we pay for it anyways?
The whole market structure needs replacing. But that will be unpopular and I wouldn’t trust the current government to organise their own Christmas party let along a working energy market.
That said…
Bulbs assets are the 1.2mil customers. The tax payer will be covering their lost credit etc anyway. So the choices here are to keep them on bulb and charge the cap or give them to (say) British Gas or EON who will charge them the cap.
Right now those customers are a liability because whoever gets them had to charge them less for energy than the energy costs. But that will change as prices normalise and as the cap rises.
So why not keep the customers, prop up bulb and then have a working business we can float in 1-5 years?
One big issue we’ll have in the bear future is when there are only 2 or 3 energy companies left because only the largest ones can survive the current freakish conditions. So an additional company (with 1.2m customers our of about 30m UK households) would add some much needed competition…
It is 2008 all over again. We will pay for the largess of private companies but receive no benefits from bailing them out, only for them to repeat the same mistakes in the future and this issue has blown over. First banks, now energy companies. I bet the train companies will be the next beneficiary of taxpayers’ billions.
Fuck Bulb. Bunch of cunts. Raising direct debits to try and cover their losses. Glad they went under. Shame we are now paying for it though as usual
Remember when tories said private energy companies will result in cheaper costs due to competition.
But they privattise the profits and socialise the losses. Our bills go 54%, meanwhile its capped at 4% in France.
Fuck it. Bulb, who prides themselves on getting their energy from 100% renewable sources, just increased their:
Electricity standing daily charge: from 24.102p to 43.394p.
Electricity rate per kWh: from 20.669p to 28.455p.
Gas standing daily charge: from 26.112p to 27.219p.
Gas rate per kWh: from 4.167p to 7.479p.
These increases will be in effect as of 1st April. Sadly, not a pre planned April Fool’s Joke.
Capitalism for us, Socialism for failing businesses. The best option would be to re-nationalise the energy sector. As it stands, we are paying twice over.
Look. This model just does not work. For-profit private business cannot deliver value whilst also driving investment in infrastructure. Because at the end of the day their imperative is to increase dividends, which means way less of their profit is reinvested.
All businesses need to make a profit to carry on operating. But the not-for-profit model is superior for this sector. I would combine that with government spending to future proof the whole operation.
10 comments
What’s that saying again, Privatising the profit and nationalising the losses?
How will it cost the tax payer more when its the tax payer using and paying for it!? Regardless of angle, we pay for it anyways?
The whole market structure needs replacing. But that will be unpopular and I wouldn’t trust the current government to organise their own Christmas party let along a working energy market.
That said…
Bulbs assets are the 1.2mil customers. The tax payer will be covering their lost credit etc anyway. So the choices here are to keep them on bulb and charge the cap or give them to (say) British Gas or EON who will charge them the cap.
Right now those customers are a liability because whoever gets them had to charge them less for energy than the energy costs. But that will change as prices normalise and as the cap rises.
So why not keep the customers, prop up bulb and then have a working business we can float in 1-5 years?
One big issue we’ll have in the bear future is when there are only 2 or 3 energy companies left because only the largest ones can survive the current freakish conditions. So an additional company (with 1.2m customers our of about 30m UK households) would add some much needed competition…
It is 2008 all over again. We will pay for the largess of private companies but receive no benefits from bailing them out, only for them to repeat the same mistakes in the future and this issue has blown over. First banks, now energy companies. I bet the train companies will be the next beneficiary of taxpayers’ billions.
Fuck Bulb. Bunch of cunts. Raising direct debits to try and cover their losses. Glad they went under. Shame we are now paying for it though as usual
Edit: wasn’t just me
https://www.theguardian.com/money/2021/oct/02/energy-firm-bulb-under-fire-for-monthly-bill-rises-of-up-to-80
Remember when tories said private energy companies will result in cheaper costs due to competition.
But they privattise the profits and socialise the losses. Our bills go 54%, meanwhile its capped at 4% in France.
Fuck it. Bulb, who prides themselves on getting their energy from 100% renewable sources, just increased their:
Electricity standing daily charge: from 24.102p to 43.394p.
Electricity rate per kWh: from 20.669p to 28.455p.
Gas standing daily charge: from 26.112p to 27.219p.
Gas rate per kWh: from 4.167p to 7.479p.
These increases will be in effect as of 1st April. Sadly, not a pre planned April Fool’s Joke.
Capitalism for us, Socialism for failing businesses. The best option would be to re-nationalise the energy sector. As it stands, we are paying twice over.
Look. This model just does not work. For-profit private business cannot deliver value whilst also driving investment in infrastructure. Because at the end of the day their imperative is to increase dividends, which means way less of their profit is reinvested.
All businesses need to make a profit to carry on operating. But the not-for-profit model is superior for this sector. I would combine that with government spending to future proof the whole operation.
We need to figure proof this whole thing. A bit like this https://www.mirror.co.uk/money/uks-first-zero-energy-homes-26260998
No energy bills new housing.