[Rant] Energy prices and the State of the Economy

So the day after British Gas announce a 9% increase in their electricity prices and a 35% yes 35% increase in gas prices it’s expected they’ll announce a 6 month profit of £880 million.

Now I’m not against any company making a profit – there’s no point in being in business unless you are making a profit (unless you’re either a) mad b) do it for the love of it or c) you’re a millionaire of have a rich relative – sadly I’m only a) and b), mostly a).

This in the same week that BP announced it made half yearly profits of $16,916 MILLION.

Who is paying for all of this? Us the consumer. Now I’m not just singling out these 2 companies (neither of which I personally use), but all of the companies in these and other industry sectors that make these obscene profits yet don’t give two hoots about us the consumer.

Why can’t the Government cap the profits these companies make which should result in cheaper prices? Although knowing our Government they’d introduce legislation that any extra profit above the limit would go to them rather than result in cheaper prices.

The UK as far as I’m aware STILL has the most heavily taxed fuel in Europe if not the world and what good has it done us? Well the economy speaks for itself. What with rising energy, fuel and food costs (let alone everything else that’s indirectly increasing as a result of these), but with no equivalent or indeed greater increases in people’s salaries to try to keep up then eventually something has to give BIG time if it hasn’t already.

If you’re already struggling I feel for you. With other energy companies expected to announce price increases both now and in the future and with the state of the world economy things can only get worse. So baton down the hatches and get ready for the ride which hopefully we all come through safely through the other side.

Published Thursday, July 31, 2008 8:53 AM by chobbs
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