Dale Vince’s Post

GOLR ( Government of Last Resort) anybody?

How many of them actually generate electricity? Very few as far as I can see, they are therefore, to put it kindly simply brokerages. Added value is zero, marketing effort massive. They simply represent an overhead to the cost of supply and distribution with clever, slick and “trendy “ advertising. Furthermore, how can they claim every kWh is green or sustainable etc when there is only one supply grid? Our electricity retail costs are far higher now when compared with the previous system of CEGB/SSEB and regional distribution boards. That includes factoring in real post-inflation factors. Additionally, any profit made under the old system went back to the exchequer so provided revenue to essential services. In the case of Bulb we have “socialised “ failure and taxpayers are collectively covering it since this essential service must be maintained for their clients. In summary, it is a complete mess and the irony is one of the better generator /suppliers is EdF which is an agency of the French state! All their UK nuclear sites were financed by the UK taxpayer and sold off to the now failed predecessors of EdF at a fraction of their original build costs. We have all been defrauded but it is apparently the people’s choice.

I am a partner at a company named Utility Warehouse. The reason I became a partner was to assist in helping the residents of Scotland save on their utilities, especially energy due to the current energy crisis.  Not only can you benefit from offering great value utilities on your own home, you can also offer these savings to your very own family, friends and work colleagues! UW has been providing great value to UK households for over 20 years.  Our customers stay with us for longer because they trust us to deliver high-quality home services at low prices over the long term.  Even today, we can continue to guarantee savings for our customers because the cost of the energy we buy is protected against pricing volatility. And because we provide broadband, mobile and insurance services, we’re not reliant on energy, which means we’re a safe pair of hands. It’s not just energy that you can rely on us for, we guarantee you’ll pay less with us than with your current suppliers when you switch your energy, broadband and mobile to UW. That’s all your home services in one simple bill. No more dealing with multiple suppliers, saving you time and money to spend on what’s important. Contact me at darren.bonner@uw.partners

This would be hard to believe, if it were not for the long history of misguided and inconsistent intervention in the UK’s energy markets that has come before. It is time for real structural reforms that pave the way for responsible competition to deliver sustainable energy.

The price cap is supposed to protect consumers but aren't taxpayers all consumers anyway? At the end of the day we will all be picking up the tab.

I’m no fan of the cap, however, if it is true, as has been suggested, that they were completely unhedged, then surely the blame cannot be placed entirely in the cap. They had the opportunity to buy volume within the cap pricing in period, and appears they either chose not to or were unable to.

“Business Secretary Kwasi Kwarteng can provide more money for the company if needed.” I echo your sentiments Dale Vince … just a shame that’s public money and not their own…

As I understand it, the price cap was implemented to prevent overcharging, not to insulate consumers against price increases. It seems bizarre not to review the level of the cap in the current circumstances.

Wow. £1,000 per customer from now until April?