> British Gas owner Centrica enjoyed half-year profits five times higher than those in 2021’s first six months, while Shell attributed its enormous numbers to higher prices, refining profits, and gas trading.
So there.
“Shell has reported record profits of £9.4bn”
Just think about that for a second, nine point four BILLION in profit.
When you see your petrol pump spinning around like Usain Bolt on Amphet and you think to yourself it’s costing you an arm and a leg, remember that number, NINE POINT FOUR BILLON.
This is Centrica and shell, upstream suppliers, not retail energy companies like British Gas. This profit came from the upstream business I.e. sale of natural gas as a commodity.
For British gas, the retail energy business, the bit that sells you gas, is loss making.
Which makes sense, because the commodity cost of gas is through the roof because of shortages caused by Ukraine and the resulting supply disruption.
In short, before anyone says it, this doesn’t mean you are being ripped off by British Gas. And nationalisation wouldn’t fix it unless you have a plan to magic more gas into the world somewhere.
Its amazing how the energy industry has made a system where the supply companies that consumers are paying money to, and are therefore angry at, are separate than the extraction companies making massive profits.
Like putting your assets in your partner’s name as a tax dodge.
Guys relax, it will trickle down /s
Coincidental that they’ve announced that they’re going to start paying dividends to shareholders again after a break due to covid?
We’re being taken for mugs again.
Why are there no riots about this?
Price up = Profits up (Also Tax revenues up) which fuel inflation…
Please notice how governments do nothing (this is world over and regardless of left/right/centre)
So can we please all just stop calling it a cost of living crisis and start calling it what it has always been. A cost of greed. We pay for their greed.
And yet there’s still schmucks out there denying that they’re price gouging.
– No, no one in energy, electricity or petrol is making big margins…. you only contribute 3p per month towards them *licks the boots*
– Are you stupid? This it the company that gets it out the ground and sells it to other companies. Your provider, Peoples GB Patriot Power Union Jack, is making a loss on your £2500 energy bill and you should probably be paying them more… *licks the boots*
– Don’t you get it, this is good news for the +£250,000 of pension savings that you have, their profits go towards your savings… *licks the boots*
Soaring profits. Rising prices. Convoluted gambling on future prices of essentials like gas/electricity. Multiple layers of companies between residential consumers and the actual fuel.
The deck is stacked, the dice are loaded. How much longer will people keeping being apologists or r/iamverysmart fodder for all of this? How high will prices have to get before those people see they’re being screwed over?
I genuinely can’t understand how anyone can look at stuff like this and still think “capitalism is a good idea”. It’s destroying the world and needs replacing pronto, but I have no hope whatsoever of that happening. Incredibly depressing.
What the actual fuck, so I’m right in thinking the cost of living isn’t actually real? Just an excuse for these energy companies to make even more fucking money?
Remember this when the old die in winter due to not affording the heating bills.
Please get angry people these Tories will never stand up to their mates in these energy companies.
Energy companies are always having record profits, especially during inflation. This doesn’t mean much by itself.
I’d like to play a game called “Guess how many MPs are shareholders?”
Anybody want to chime in?
Where are the windfall taxes? We need them NOW.
“Energy Oligarchs enjoy stripping the poor of any financial freedom with rising prices while simultaneously destroying the planet ensuring our slow march to death will be as painful as possible” – the real headline.
I have a question, I have direct access to one of the top directors at shell (extended family member on my wives side of the family). I have always wanted to lay into him regarding how awful Shell as a company in terms of profit margins, harm to the environment etc etc, or at least ask questions…although I know all ill receive back is a huge amount of corporate propaganda speak that he and his boss (the actual CEO of Shell) have made up to bat away any ‘annoying environmentalists’. Non the less I feel like I need to say SOMETHING. Especially with the JACKDAW project up ahead which is fucking ridiculous.
There are 9 current directors listed, maybe we should be asking them directly?
Yeah I Know, we’re flipping paying for it.
All the while raping our planet and contributing to global warming!
Why are we not all out protesting, refusing to pay… Anything… why are we all just taking it?
This is just a fucking con isn’t it. No other way to phrase it. We are getting rinsed by fucking robber barrons
BuT tHeIr PrOfItS hAvEnT bEeN iNlInE wItH InFlAtIoN
– an actual redditors reason to justify the exploitative cost of fuel.
I’m really happy for them, when people are dying this winter the funeral homes should be charging companies like Shell and Centrica the bill. It’s the least they can do.
The March profits from the 70% increase this autumn are going to be out of this world.
But we have to allow this, we should be happy, don’t you listen to the mp’s they might at some point invest a bit back in to Britain… Maybe
29 comments
> British Gas owner Centrica enjoyed half-year profits five times higher than those in 2021’s first six months, while Shell attributed its enormous numbers to higher prices, refining profits, and gas trading.
So there.
“Shell has reported record profits of £9.4bn”
Just think about that for a second, nine point four BILLION in profit.
When you see your petrol pump spinning around like Usain Bolt on Amphet and you think to yourself it’s costing you an arm and a leg, remember that number, NINE POINT FOUR BILLON.
This is Centrica and shell, upstream suppliers, not retail energy companies like British Gas. This profit came from the upstream business I.e. sale of natural gas as a commodity.
For British gas, the retail energy business, the bit that sells you gas, is loss making.
Which makes sense, because the commodity cost of gas is through the roof because of shortages caused by Ukraine and the resulting supply disruption.
In short, before anyone says it, this doesn’t mean you are being ripped off by British Gas. And nationalisation wouldn’t fix it unless you have a plan to magic more gas into the world somewhere.
Its amazing how the energy industry has made a system where the supply companies that consumers are paying money to, and are therefore angry at, are separate than the extraction companies making massive profits.
Like putting your assets in your partner’s name as a tax dodge.
Guys relax, it will trickle down /s
Coincidental that they’ve announced that they’re going to start paying dividends to shareholders again after a break due to covid?
We’re being taken for mugs again.
Why are there no riots about this?
Price up = Profits up (Also Tax revenues up) which fuel inflation…
Please notice how governments do nothing (this is world over and regardless of left/right/centre)
So can we please all just stop calling it a cost of living crisis and start calling it what it has always been. A cost of greed. We pay for their greed.
And yet there’s still schmucks out there denying that they’re price gouging.
– No, no one in energy, electricity or petrol is making big margins…. you only contribute 3p per month towards them *licks the boots*
– Are you stupid? This it the company that gets it out the ground and sells it to other companies. Your provider, Peoples GB Patriot Power Union Jack, is making a loss on your £2500 energy bill and you should probably be paying them more… *licks the boots*
– Don’t you get it, this is good news for the +£250,000 of pension savings that you have, their profits go towards your savings… *licks the boots*
Soaring profits. Rising prices. Convoluted gambling on future prices of essentials like gas/electricity. Multiple layers of companies between residential consumers and the actual fuel.
The deck is stacked, the dice are loaded. How much longer will people keeping being apologists or r/iamverysmart fodder for all of this? How high will prices have to get before those people see they’re being screwed over?
I genuinely can’t understand how anyone can look at stuff like this and still think “capitalism is a good idea”. It’s destroying the world and needs replacing pronto, but I have no hope whatsoever of that happening. Incredibly depressing.
What the actual fuck, so I’m right in thinking the cost of living isn’t actually real? Just an excuse for these energy companies to make even more fucking money?
Remember this when the old die in winter due to not affording the heating bills.
Please get angry people these Tories will never stand up to their mates in these energy companies.
Energy companies are always having record profits, especially during inflation. This doesn’t mean much by itself.
I’d like to play a game called “Guess how many MPs are shareholders?”
Anybody want to chime in?
Where are the windfall taxes? We need them NOW.
“Energy Oligarchs enjoy stripping the poor of any financial freedom with rising prices while simultaneously destroying the planet ensuring our slow march to death will be as painful as possible” – the real headline.
I have a question, I have direct access to one of the top directors at shell (extended family member on my wives side of the family). I have always wanted to lay into him regarding how awful Shell as a company in terms of profit margins, harm to the environment etc etc, or at least ask questions…although I know all ill receive back is a huge amount of corporate propaganda speak that he and his boss (the actual CEO of Shell) have made up to bat away any ‘annoying environmentalists’. Non the less I feel like I need to say SOMETHING. Especially with the JACKDAW project up ahead which is fucking ridiculous.
​
Anyway, my question is….what do I say?!?
https://dontpay.uk/
Headline:
Private companies Shell and Centrica criticised for not selling energy below market price
Meanwhile government gets away with leaving burden of external price increases with general population
According to [the companies house listing for Centrica](https://find-and-update.company-information.service.gov.uk/company/03033654/officers) Amber Rudd is a current director.
There are 9 current directors listed, maybe we should be asking them directly?
Yeah I Know, we’re flipping paying for it.
All the while raping our planet and contributing to global warming!
Why are we not all out protesting, refusing to pay… Anything… why are we all just taking it?
This is just a fucking con isn’t it. No other way to phrase it. We are getting rinsed by fucking robber barrons
BuT tHeIr PrOfItS hAvEnT bEeN iNlInE wItH InFlAtIoN
– an actual redditors reason to justify the exploitative cost of fuel.
I’m really happy for them, when people are dying this winter the funeral homes should be charging companies like Shell and Centrica the bill. It’s the least they can do.
The March profits from the 70% increase this autumn are going to be out of this world.
But we have to allow this, we should be happy, don’t you listen to the mp’s they might at some point invest a bit back in to Britain… Maybe
Scumbags