UK: Are Energy Firms Bleeding Us Dry?

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The price of gas and electricity is rising by up to 10% just in time for winter in the UK.

The customer is getting extremely short notice of these rises, and it also invalidates David Cameron's thoughtless claim that customers should shop around for cheaper prices. If all the companies put their prices up what point is there in shopping around?

I think we need to re-nationalize this industry because privatization has not brought about better service or prices. If the international price of gas is high then energy tax should fall and the private firms should take cuts in their profits. It seems the customer is always left with the bill and never given the benefits of the profits.

No comment?

Prices are bleeding us dry.

We're avoiding the blackouts we had under the nationalised system, and I don't think things would have been much better for us in financial terms either. Prices are going to go up no matter what, even if we were practically buying the gas wholesale from the government then prices would be too high.

We need to invest in renewable energy and nuclear power, and wherever possible replace fossil fuels with electricity. It will be painful and expensive in the short term, but in the long term it will be better for us- both in terms of prices and the environment.

Energy should be expensive, but it should be equally expenive for everyone. I think it is disgusting that poor people pay far more than well off people with the ability to shop around and work out the best deal. The green initiatives are reducing bills by bringing usage down which needs to happen, and renewables need to be developed.

It is a huge shame that the industry was privatised. And the introduction of competition has just meant that profits get tagged on to the price so it goes up. Prices follow the world market when those prices rise, but they never go down again. Gas and electricity and water supply are sevices and are best and most efficiently provided as a service by one supplier who is there to do a good job not to pay shareholders. But I do like being able to directly fund a green company to build wind turbines and explore eco production of gas. Knowing the money goes to a good cause makes paying it less painful.

Removing VAT would help, but I doubt the government will want to lose it. A targeted means tested scheme of VAT reduction would be best but would cost a lot to implement. Maybe increasing pension credit and child tax credit would be an easier way, funded from the increased VAT take from the price rises.

Not from me because you are spot on.

I would have nothing to add other than agreement.

I think the energy industry is too important and critical to the planet for it to be in the hands of private profiteering firms. As a society we need to take collective responsibility and run it efficiently but with global environmental concerns in mind. As tax payers we should be willing to invest in safer and cheaper forms of energy and re-nationalization can ensure we do that.

We need to take out the middlemen in this industry because they only do what they do best and that is to take their cut and f*ck everything else. This industry is far to vital for the rich man to be playing games with.