Why not, it’s just another drop in the ocean at this point.
Not that it will matter, because no-one will be able to afford these ridiculous prices being touted anyway.
Have we tried nationalising the retail energy suppliers and production companies yet?
Never vote Conservative.
Ffs – “The government has refused to allow it to hedge”
i feel like the 2022 recession will feel like the 2008 one except governments are bailing energy rather than banks
> The government has refused to allow it to hedge – where companies buy energy at a fixed price for a certain period – exposing it to rising gas prices.
>
> …
>
>The Auxilione director Tony Jordan told the Financial Times the government “was paying a high price for the lack of hedging, and costs could rise even higher if gas prices continue to soar”.
FFS. The Tories really are thicker than pig shit, aren’t they.
> Octopus has offered to take over Bulb’s customers if the government buys gas and electricity in advance at a cost of £1bn, the FT reported.
Sounds like hedging to me and, just like insulation, that appears to almost be a capital crime to the Tories!
Like it matters, you can only milk a cow so much anyway.. i mean. keep trying to take from me what i dont have…
Surely if a company fails its investors lose their money and they default on their debts. It’s a shame that the public purse is picking up the tab for this.
How much would have been involved to bulk shift their accounts onto another provider or split them amongst the viable suppliers ?
I’m with bulb still as it’s still cheaper for me than moving – the next cheapest is their potential buyers Octopus which was when I last looked before all this madness was about £1000 per annum more expensive.
I really don’t want them to go bust whilst I’m switching as I’ll be left in limbo.
Capitalise the profits and socialise the losses… Sugar coated feudalism.
Why on earth are the losses of a private company being socialised like this when the profits were offshored and taken out by shareholders immediately?
I’ll admit I don’t have any kind of knowledge on this subject, but seeing as they’re already being funded by tax payers, nationalise it. Sod the share holders, they’ve backed the wrong horse. It’s a failed company, it’s worth nothing, nationalise it.
It’s funny how these companies made uuge profits and paid their shareholders billions of pounds. The moment there is a spike it energy they go bust. If they just saved their money they may have been able to weather the storm.
Time for us to nationalise it
For what purpose are we bailing out a failed private company.
Why are we paying for this failure?
While the big companies are bringing record profits the smaller ones are collapsing because of their inability to run a bloody company, which the also puts the prices up.
When Bulb collapsed it posted record profits.
it’s owns by the same shareholders as british gas.
the “wholesale energy rise” is a 100% fabrication designed to pull in short-term profits/get people locked into insane 2-3yr energy contracts.
Ah for fuck’s sake. I’ll just open the door, drop my trousers and wait for the energy company to come have it’s wicked way with me.
well my expected bill has just jumped from £63 a month to £320 a month. Another £150 on top of that would make it almost equivalent to my mortgage. At this point I’m thinking my only chance is going to be to live in my car and rent out the house so someone else can pay the electric bill.
If Labour campaigns for nationalising utility companies and rail companies and the public start to get behind the ideas .. the Tories will pounce on this ideas and trumpet it as their own achievement. Like Pishy Sunak is doing.
An extra £150 on a potential bill of 4k lol . Might as well round it up to £500 just in case
The problem and I say this as a free market capitalist is Britain has a horrible tendency to half do things.
Private the running of the trains but don’t let them determine ticket prices, routes where to build/invest.
Privatise energy but regulate prices and requirements on who they supply.
Privatise Royal Mail but force them to meet government performance targets.
The problem isn’t privatisation it’s half arsed privatisation if your privatising Royal Mail you shouldn’t treat them any differently to yodel/Hermes.
If you privatise energy don’t force them to sell at a cap and provide power to people in arrears.
If you privatise rail let companies choose prices, routes and investments.
And if the government is unwilling to do that then they should run it
The company is shockingly badly run. The government is effectively rocking up every day to buy energy on the day ahead market upon which it is losing money. No effort to hedge the long term costs of energy. We keep hearing nationalise the energy companies but if this is an example of how well it would be run then no thanks. In fairness though, this is how bulb was run apparently which is why they couldn’t survive the shift in wholesale energy prices.
The challenge with bulb is the fact that no other energy company is in the position to take on 1.6m customers in the current climate and structure of the energy markets.
Everyone who voted brexit was miss sold.
I’m waiting for,
‘Leaves on the line to add £2000 to energy bills’
Look, none of this is worth worrying about. Just book yourself a nice holiday to Greece and forget about it all.
25 comments
Why not, it’s just another drop in the ocean at this point.
Not that it will matter, because no-one will be able to afford these ridiculous prices being touted anyway.
Have we tried nationalising the retail energy suppliers and production companies yet?
Never vote Conservative.
Ffs – “The government has refused to allow it to hedge”
i feel like the 2022 recession will feel like the 2008 one except governments are bailing energy rather than banks
> The government has refused to allow it to hedge – where companies buy energy at a fixed price for a certain period – exposing it to rising gas prices.
>
> …
>
>The Auxilione director Tony Jordan told the Financial Times the government “was paying a high price for the lack of hedging, and costs could rise even higher if gas prices continue to soar”.
FFS. The Tories really are thicker than pig shit, aren’t they.
> Octopus has offered to take over Bulb’s customers if the government buys gas and electricity in advance at a cost of £1bn, the FT reported.
Sounds like hedging to me and, just like insulation, that appears to almost be a capital crime to the Tories!
Like it matters, you can only milk a cow so much anyway.. i mean. keep trying to take from me what i dont have…
Surely if a company fails its investors lose their money and they default on their debts. It’s a shame that the public purse is picking up the tab for this.
How much would have been involved to bulk shift their accounts onto another provider or split them amongst the viable suppliers ?
I’m with bulb still as it’s still cheaper for me than moving – the next cheapest is their potential buyers Octopus which was when I last looked before all this madness was about £1000 per annum more expensive.
I really don’t want them to go bust whilst I’m switching as I’ll be left in limbo.
Capitalise the profits and socialise the losses… Sugar coated feudalism.
Why on earth are the losses of a private company being socialised like this when the profits were offshored and taken out by shareholders immediately?
I’ll admit I don’t have any kind of knowledge on this subject, but seeing as they’re already being funded by tax payers, nationalise it. Sod the share holders, they’ve backed the wrong horse. It’s a failed company, it’s worth nothing, nationalise it.
It’s funny how these companies made uuge profits and paid their shareholders billions of pounds. The moment there is a spike it energy they go bust. If they just saved their money they may have been able to weather the storm.
Time for us to nationalise it
For what purpose are we bailing out a failed private company.
Why are we paying for this failure?
While the big companies are bringing record profits the smaller ones are collapsing because of their inability to run a bloody company, which the also puts the prices up.
When Bulb collapsed it posted record profits.
it’s owns by the same shareholders as british gas.
the “wholesale energy rise” is a 100% fabrication designed to pull in short-term profits/get people locked into insane 2-3yr energy contracts.
Ah for fuck’s sake. I’ll just open the door, drop my trousers and wait for the energy company to come have it’s wicked way with me.
well my expected bill has just jumped from £63 a month to £320 a month. Another £150 on top of that would make it almost equivalent to my mortgage. At this point I’m thinking my only chance is going to be to live in my car and rent out the house so someone else can pay the electric bill.
If Labour campaigns for nationalising utility companies and rail companies and the public start to get behind the ideas .. the Tories will pounce on this ideas and trumpet it as their own achievement. Like Pishy Sunak is doing.
An extra £150 on a potential bill of 4k lol . Might as well round it up to £500 just in case
The problem and I say this as a free market capitalist is Britain has a horrible tendency to half do things.
Private the running of the trains but don’t let them determine ticket prices, routes where to build/invest.
Privatise energy but regulate prices and requirements on who they supply.
Privatise Royal Mail but force them to meet government performance targets.
The problem isn’t privatisation it’s half arsed privatisation if your privatising Royal Mail you shouldn’t treat them any differently to yodel/Hermes.
If you privatise energy don’t force them to sell at a cap and provide power to people in arrears.
If you privatise rail let companies choose prices, routes and investments.
And if the government is unwilling to do that then they should run it
The company is shockingly badly run. The government is effectively rocking up every day to buy energy on the day ahead market upon which it is losing money. No effort to hedge the long term costs of energy. We keep hearing nationalise the energy companies but if this is an example of how well it would be run then no thanks. In fairness though, this is how bulb was run apparently which is why they couldn’t survive the shift in wholesale energy prices.
The challenge with bulb is the fact that no other energy company is in the position to take on 1.6m customers in the current climate and structure of the energy markets.
Everyone who voted brexit was miss sold.
I’m waiting for,
‘Leaves on the line to add £2000 to energy bills’
Look, none of this is worth worrying about. Just book yourself a nice holiday to Greece and forget about it all.