Ofgem Give Energy Companies One Last Chance

  wids001 08:18 22 Mar 11
Locked

Ofgem give the energy companies two months to stop ripping off customers or face full-scale competition commission inquiry.

click here

Will it bring prices down though. Reports seem to indicate that they will be forced to offer only one tarrif for each payment method, thus making it easier to compare the market and switch.

Well see!

  SparkyJack 09:46 22 Mar 11

IMHO it is all a conspiracy- Initially after WW2 with Labour all energy was Nationalized -it was probably needed because individual producers/suppliers[the one and the same] were in a chaotic state.
But it stifled investment and did not stop strikes.
So privatization was the word - get the mess of the Governments back.
But it was not really privatization.
The big organizations from overseas bought in- in both the the generator and supplier sectors- so in name they were separate in reality were the same, as in a 'group' business- A group business is where a coven [or group] of enterprises of a similar nature trade with each other- each taking profit[raising the end price] before the items/products get to the real customer.
In this case the 'producers/generators'actually sell 'wholesale' to the distribution network - National Grid' who sell to the distributors [same
firms]so that the name of the firm at the top of your Electricity/Gas bill is really a 'shell company' that er writes bills - that's all it does.[for a profit of course]
National Grid is, by the way busy at the same, in the USA too.

  oresome 13:01 22 Mar 11

As a private investor, I hold shares in National Grid. The income supplements my pension.

I note that the annual return I've received for holding these shares over the last 4 years is 2.6%. Well below inflation.

Why should I or anyone else invest in a company without receiving an adequate return?

I don't like utility bills any more than the next person, but companies need to make profits.

Profit is NOT a dirty word and neither is foreign ownership.

  SparkyJack 20:09 22 Mar 11

My private pension- which was worth a '5th week' of sta pension when it started 11 years ago is currently worth about 2.5 days worth of state pension now.
But it does not alter my scenario
To operate organizations have to have investors,investors need returns- so what goes around comes around.

  morddwyd 20:24 22 Mar 11

"Ofgem Give Energy Companies One Last Chance"

What, another one?

  finerty 20:38 22 Mar 11

we shall see well maybe under tory something may happen but i didn't see much happen under labour

  Dragon_Heart 23:36 22 Mar 11

.... Ofgem have done nothing of any great worth since it was formed, they maybe a bit worried they are next for chop ?

"Ofgem’s review found that competition is being stifled by a combination of tariff complexity, poor supplier behaviour, and lack of transparency".

You can never compare like for like, a bit like ISP's.

Will they comply :-))))))))))

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