Power Companies to be investigated

  wids001 09:34 26 Nov 2010

Seems that their profits per customer have increased from £65 in September to £90 now - an increase of 38%.

click here

  Toneman 09:37 26 Nov 2010

What did I say... the price of privatisation...

  morddwyd 09:39 26 Nov 2010

I don't think that will be found excessive, the increase might, but not the actual amount.

Think what a car dealer makes from the average customer, or an electronics retailer.

  interzone55 09:51 26 Nov 2010

A car dealer doesn't have a million customers...

  birdface 11:40 26 Nov 2010

Results of the Investigation will not be available until March or April how convenient.

  Strawballs 11:42 26 Nov 2010

That is why the Tories privatized them so they could help their mates rake it in at our expence

  March Hare 14:32 26 Nov 2010

The spokesperson for the energy companies has already been on the media today protesting that the companies' big rise in profits doesn't mean they're making money (or some such "black is white" argument which is beyond my feeble intellect).

It remains to be seen if these sorts of arguments will result in a whitewash when the report comes out.

  michaelw 15:37 26 Nov 2010

Ofgem have finally woken up. But as we all know these regulatory bodies all all bark and no bite.

  gengiscant 16:20 26 Nov 2010

Now come on everybody,think of the poor hard done by shareholders.

These OF... whatevers are a total waste of money and time. As buteman says, results will not be available till March/April , winter hopefully will be of its last legs and no doubt there will be other more important things to worry about and the report will quietly buried like all the rest.

All you ever hear from Governments etc is there will be an inquiry or a report or we will look into this, but by the time these reports ever come out most of us have forgotten they were ever being done in the first place.
A fact Governments are well aware of.
So I will not be holding my breath for an outcome than comes down on the side of the consumer. Maybe a little slap on the wrist for the fuel companies but nothing more.

  al's left peg 16:34 26 Nov 2010

Alan14, car dealers may not have millions of customers, but they do make a great deal of profit.

I was told last week that a Nissan Micra car costs Nissan a total of £700 to build....yes £700. Now a Micra currently retails at about £8000 that's a fair bit profit to be had there.

On the subject of ofgem and other regulating bodies. They should be funded by performance. They never seem to do anything for the customers in general for these energy companies in my eyes.

  johndrew 17:04 26 Nov 2010

Ofgem were criticised not so long back for being 'toothless' when it came to dealing with power companies. The Government gave them more powers and upped the fines they could impose. With luck these two actions will (along with cuts to various departments and quangos) cause them to do something positive and at the very least provide justification for the rises. Pity it will take three months though.

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