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Energy bills, where does it end?


bumpkin

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Constant and often unjustified rises in energy costs effect us all. We are supposed to have monitory bodies to ensure fairness but they do nothing apart from drawing nice big salaries for themselves. My bill was around £2300 which to my mind was ridiculous in the first place now they are saying they will amend my direct debit to what equates to £2500 no explanation given.

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bumpkin

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Lotvic, your posting not showing on my screen

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bumpkin, no it's not there anymore, FE has removed it as well as the spam from UKfella. The link he gave went through another site (that pays him commission when you click on link) before taking you to the correct website.

You do need to check your cookies in your browser and remove any for 'webgain.com' as it will track you and target you with popup adverts. Also to be safe look in your browser history and remove any entries for 'track.webgain.com'

Always best to check any links point directly to the correct website before you click on them. If you hover mouse pointer over a link it should show you where it's going.

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bumpkin

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Thanks for the explanation I was unaware of that. Bumpkin

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finerty

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spare a thougth for this man

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WhiteTruckMan

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FE

""spuds

"Stuff the shareholder's and the large corporations and how PLC's work, and let's start to look at ways of bringing this issue back to basic levels of fairness."

It's all very well making remarks like that, but it illustrates a lack of understanding about the real world. Investors want to see a return on their money, and the directors of privately owned companies are under a legal obligation to do the best they can for their shareholders. Utility companies are no different in this respect to any other business venture.""

Would you include banks in that particular sweeping statement? Because in my opinion the energy companies need watching pretty closely, just like the banks do.

WTM

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Forum Editor

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WhiteTruckMan

"Would you include banks in that particular sweeping statement?"

It wasn't a sweeping statement - it was a factual statement about the legal obligations that directors of privately owned limited companies have to their shareholders.

It applies to the directors of all privately owned limited companies. Whether or not companies in a particular market sector "need watching pretty closely" is a matter of personal opinion - whether you are a prospective or actual shareholder,or a potential or actual customer.

In a free market economy (which ours is) businesses will prosper if they can persuade shareholders to invest, and customers to buy their goods or services. The two things go hand in hand. Shareholders will invest if they believe they will get a satisfactory (to them) return on their money. That won't happen unless a)customers buy goods/services and b)the business is well-managed.

In essence it's a very simple equation, and it applies to utility companies and banks in equal measure.

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namtas

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If you research you will find that many knowledgeable people consider that the real problem which is driving costs is not in fact shareholders but rather speculators, who are very effectively totally controlling prices
Speculation has destroyed the laws of supply and demand in the oil markets and created an artificial market. These artificial markets are volatile; they're difficult to predict and can turn instantly,

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WhiteTruckMan

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FE

Utility companies are no different in this respect to any other business venture

I'd say that was a pretty sweeping statement.

We've had this conversation before in another thread, only it was about banks not energy companies. Circumstances have shown that I was correct about the banks, and I maintain that the same applies to energy companies, that they are not simply just another company. If they are allowed to run unchecked, serving only their own interests as a normal company would, then they can ruin us all.

WTM

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oresome

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I hold shares in three utility companies

National Grid.........Forecast Yield........5.7%

United Utilities......Forecast Yield........5.0%

SSE......................Forecast Yield........5.7%

I don't think the return is excessive subtracting inflation from those yields and considering the risk taken. For instance National Grid recently had a rights issue asking shareholders to stump up money for infrastructure upgrades.

Reduce the return and I will put my money elsewhere.

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spuds

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Perhaps we might consider the recent Libor incidents, and how that can control the way banks feed supply and demand. The same may well apply to the utility companies on the way they feed supply and demand. We are informed that its all competition, yet the way these companies act, there appears to be very little competition!.

oresome

As a small investor (which I assume that you are, if not I apologise) in these companies, do you really think that they would get really worried if you withdrew your cash. We are talking about multi-national corporations here, who supply massive investments and support among their own.

We have had the small investor form associations among themselves, so that they have a far bigger say (en-bloc), including at major meetings or AGM's. How many of those associations have managed to change a company around for the betterment of the smaller investor or the public in general, very few if any, I would perhaps assume. You can place your tick on a voting paper, but did your tick really change things?.

I had investments and shares with all the major building societies. I also purchased many entitlement shares when the government made these available. When I withdrew from all those investments and sold my shares, never once did I receive a 'welcome back- we miss you letter'. I like many other smaller investor's were more of a thorn in their side and an administration nightmare for them.

Going off subject, I have private pension plans, and two in particular didn't produce an increase for about three years 'because the market was dormant', yet at the same time, 'my' money was stuck with the same large corporations. The trustees or manager's of the funds still made their fees, to the point that they were making more out of 'my' money than I was.

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