Has anyone calculated how much value has been wasted by creating the retail energy market in total?
So we have £1.84bn to give away, these corporations will still be paying shareholder dividends and fat CEO paycheckers, and people will still be freezing in their homes due to fuel poverty, great.
If we have to use public money to assist/bail out a private entity then there should be a 3-5yr freeze on paying out to shareholders.
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Why are entities responsible for keeping us warm and dry are not owned by the state?
I dont think it should have anything to do with the goverment. People should end up without any provider and just sign a contract on their own with some different one.
So this is the equivalent of every person in UK contributing ~£26 to these energy firms, and I’m sure it’s more considering other bailouts and injections they’ve received. Now we have to pay even more for the energy that these same companies getting our money have decided to increase in price. How does this make any sense.
This is an insane amount of money, its a great deal for any company that takes on the customers it sounds like. Says it’ll be up to £2.5bn once admin is included.
>The largest single compensation payment of £681m went to Octopus Energy for taking on Avro Energy’s 580,000 customers.
That’s almost £1,200 per house! Thats like a years worth of gas and electric bills for the average home(before the current increases). Is this not clearly an amazing deal for Octopus Energy since they get the new customers, they get a years worth of energy bills for each of them, and then the customers still have to pay their bills each month? As long as wholesale price and the chargable to customer price gap closes by the end of 2022 then Octopus energy has just got a massive chunk of the market and a bunch of cash for the hassle.
Must be nice. The others only got around £700 per house they took on. Which is weird that it’s different.
The government should have just took them all on for good. The private markets have just shown they failed so what benefit is left of having them?
Also I’m tired of private companies getting massive bailouts but when the not for profit public company TFL that provides essential services for the public and keeps the capital city running the Government doesn’t want to give them a penny. And when they finally do it comes with ultimatums, conditions, and just generally calling the company a mismanaged failure and blames it on the head who just happens to be part of the opposing party.
8 comments
Has anyone calculated how much value has been wasted by creating the retail energy market in total?
So we have £1.84bn to give away, these corporations will still be paying shareholder dividends and fat CEO paycheckers, and people will still be freezing in their homes due to fuel poverty, great.
If we have to use public money to assist/bail out a private entity then there should be a 3-5yr freeze on paying out to shareholders.
[deleted]
Why are entities responsible for keeping us warm and dry are not owned by the state?
I dont think it should have anything to do with the goverment. People should end up without any provider and just sign a contract on their own with some different one.
So this is the equivalent of every person in UK contributing ~£26 to these energy firms, and I’m sure it’s more considering other bailouts and injections they’ve received. Now we have to pay even more for the energy that these same companies getting our money have decided to increase in price. How does this make any sense.
This is an insane amount of money, its a great deal for any company that takes on the customers it sounds like. Says it’ll be up to £2.5bn once admin is included.
>The largest single compensation payment of £681m went to Octopus Energy for taking on Avro Energy’s 580,000 customers.
That’s almost £1,200 per house! Thats like a years worth of gas and electric bills for the average home(before the current increases). Is this not clearly an amazing deal for Octopus Energy since they get the new customers, they get a years worth of energy bills for each of them, and then the customers still have to pay their bills each month? As long as wholesale price and the chargable to customer price gap closes by the end of 2022 then Octopus energy has just got a massive chunk of the market and a bunch of cash for the hassle.
Must be nice. The others only got around £700 per house they took on. Which is weird that it’s different.
The government should have just took them all on for good. The private markets have just shown they failed so what benefit is left of having them?
Also I’m tired of private companies getting massive bailouts but when the not for profit public company TFL that provides essential services for the public and keeps the capital city running the Government doesn’t want to give them a penny. And when they finally do it comes with ultimatums, conditions, and just generally calling the company a mismanaged failure and blames it on the head who just happens to be part of the opposing party.