Utility Prices

[steve2006]

I had to smile to myself when listening to the news today that OFGEM/The office of fair trading (both government sponsored) are going to investigate whether Gas and Electricity suppliers are overcharging and making excess profits,the investigation will take until March 2011 when their findings will be published and we consumers have paid our winter bills.

It takes 10 minutes to find any PLCs financial returns and therefore their profits by logging onto the Company House website.

I'll do the investigation for free,OK finished and the results are yes we are being ripped off and yes they are making excessive profits!!!!!!!!

What is going off here?

[ROYT]

The usual rip off Britain..If every body has reduced their consumption of gas , say, new boiler

being careful with heating etc, less gas being used,therefore they will have to put the price up to maintain greedy profit. Sell less charge more, nice!

Likewise electric, if every body cuts down reducing profit margins, hike the price up.

If Someone invents a car that runs on water do you think you will benefit,dream on,water will cost the same as petrol.

If VAT is going up,we all have to tighten our belts,loss of jobs, no money for this,

no money for that etc, how can we lend Ireland 12 billion Pounds ?

[steve2006]

Very true,if the government applied for a credit card they would be refused!!!!

Also very true with the water,strange how the price of cooking oil increased to the same price as diesel when it was found you could use it to run an engine!!!

I think when I pass wind I will bag it and sell it back to the grid!

[Mike_B]

Infuriating indeed. To add insult to injury, if Ofgem find any wrongdoing, the companies concerned will be punished with fines!! The money for these fines will come, ultimately, from the customers... So government wins money from the fines, kudos for forcing the investigation, but the customers get screwed over backwards whether or not Ofgem finds anything legally wrong.

Could this possibly be any more corrupt?