Yesterday’s news and all, but just to highlight this again given a lot of the comments and sentiment out there… Bord Gais had to shut down their 400m power generator plant in Cork for all of last year after a technical failure and got it back uo and running for this year. That’s the main reason their profits jumped from like 20 mill to 35 mill.
For the most part, power companies are seeing a spike in revenue and cost and any increase of the gap between the two is them hedging cost increase risk with price increases, but there is significant competition in the market with folks switching instantly when they can avail of a reduced rate somewhere else.
~~That’s a 4.4% profit, not outrageous for a private company. I’d be more annoyed with ESB’s 14.3% profit, considering it’s a state owned company.~~
Overall I’d prefer if energy wasn’t run for profit.
Edit: I did that all wrong, assuming revenue is about the same as 2021 it would be closer to 9%. I’m still more annoyed at ESB. Second part of comment stands.
Is there anything we can do about it since the government gave Bord Gais to a British company?
They sold it for €1bn, what will it cost to undo this Fine Gael treason, €5bn, €10bn?
[deleted]
And yet the media snd politicans will do nothing to stop the price gouging, people need to take matters into their own hands. We need to nationalize the energy sector because clearly the private for profit model is an utter scam. Expropriate the expropriaters
Nationalise the industry. Fuck these people
This will go on, unregulated as they continually get to screw people over who have no defense against this wanton greed and chicanery.
7 comments
Yesterday’s news and all, but just to highlight this again given a lot of the comments and sentiment out there… Bord Gais had to shut down their 400m power generator plant in Cork for all of last year after a technical failure and got it back uo and running for this year. That’s the main reason their profits jumped from like 20 mill to 35 mill.
For the most part, power companies are seeing a spike in revenue and cost and any increase of the gap between the two is them hedging cost increase risk with price increases, but there is significant competition in the market with folks switching instantly when they can avail of a reduced rate somewhere else.
~~That’s a 4.4% profit, not outrageous for a private company. I’d be more annoyed with ESB’s 14.3% profit, considering it’s a state owned company.~~
Overall I’d prefer if energy wasn’t run for profit.
Edit: I did that all wrong, assuming revenue is about the same as 2021 it would be closer to 9%. I’m still more annoyed at ESB. Second part of comment stands.
Is there anything we can do about it since the government gave Bord Gais to a British company?
They sold it for €1bn, what will it cost to undo this Fine Gael treason, €5bn, €10bn?
[deleted]
And yet the media snd politicans will do nothing to stop the price gouging, people need to take matters into their own hands. We need to nationalize the energy sector because clearly the private for profit model is an utter scam. Expropriate the expropriaters
Nationalise the industry. Fuck these people
This will go on, unregulated as they continually get to screw people over who have no defense against this wanton greed and chicanery.