Prices of the electricity we use to charge
- Thread starter flecc
- Start date
Here's a bit more about what I posted in post #8988. Lease companies are in dire straits because they pandered to the net zero green agenda, probably under pressure from their controlling shareholders. The largest leasing company in UK is Lex Autolease, owned by LLoyds TSB, controlled by the usual offenders of Black Rock and Vanguard. All the shite going on in the world stems from the same places:
www.autoexpress.co.uk
"The largest shareholders of Lloyds Banking Group, formerly known as Lloyds TSB, are institutional investors, with BlackRock, Inc. holding the largest stake at 9.2%. Other major shareholders include Harris Associates LP, BlackRock Investment Management (UK) Ltd., The Vanguard Group, Inc., and The Bank of New York Mellon Corp. (Investment Management)"
Car finance firms losing "hundreds of millions” in EV depreciation want Govt support | Auto Express
The BVRLA says the disparity in supply and demand for electric cars is resulting in weaker-than-expected residuals, which is costing firms millions
www.autoexpress.co.uk
A bit of green washing is better than nothing. We can't go on burning fossil fuels until they are all gone.
Our corrupt tory privatized energy companies are unlikely to drop the consumer price though. They've gotten too use to their vast profits.
I think I am going to sell off my remaining US stock before the 90 days runs out.
So you're going to put your money where you mouth is? I'm going to bookmark this.
The energy distribution companies which you deal with, were privatised by Thatcher. They have never made a profit. They barely cover their admin and equipment costs out of what they take from the consumer. What you pay is mostly the cost of the fuel to produce and pipe to your house. This is why so many of them have gone bust. When the Ukraine war started several collapsed because they were selling the fuel for less than it cost them. Others racked up massive debts.
The exploration and extraction of gas and oil does make money. Of course it does. Why else would corporations spend billions exploring and extracting the fuel we all depend on. They were never privatised. They were ALWAYS private. Government leases the sea bed to them and they drill and extract if there is anything there. They sell the fuel at the world market price. Do you think they should sell it for less? I wonder if you had ever worked in the offshore oil industry. 12 hour shifts in the North Sea in winter and two weeks living in a container on legs, a hundred miles offshore. I think you'd expect to be VERY well paid. They are, and they should be. They aren't lefty whiners of course. They work hard, get the job done, don't complain, and they live in nice houses and have nice stuff.
One day - you might lift your eyes out of your Momentum / Guardian slogan book. Then you might get something right for a change.
EDIT:
By the way - The oil and gas extraction companies pay 78% of their profit to the government for the privilege of being able to drill and build pipe lines across the sea floor. That money gets spent on public services.
shakes head in despair.
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Oh dear. You certainly know your place dont you.
Since the start of the energy crisis(Since 2021), 20 UK privatized energy companies have collectively made a PROFIT of £457 billion.
This profit figure encompasses energy producers (like Shell and Equinor), grid operators (like National Grid), and energy suppliers (like British Gas). The profit has been significantly fueled by rising energy prices and regulatory changes that allow suppliers to make additional profits on standard variable tariffs.
While the specific profit figures for individual companies vary, the overall trend is clear: privatized energy companies have made SUBSTANTIAL profits, particularly during the energy crisis. For example, National Grid paid out £1.4 billion in record dividends in 2021
You then went off at a bit of a tangent and moved away from general power generation to specifically oil production
As to the cost of production, a barrel of for example Brent is about £18, which then sells for about £60 Brent pulls in about 300,000 barrels per day.
But its not really fair to say Brent, as all is 'pooled' and total across the world is is about 95 million barrels
At say $80 a barrel.
Yes, I can see that for example oil producers are in it for the charity.
That must be why the ceo of Shell is on £8.5m/year and its poorer cousin BP is remunerated at a paltry £5.5m/year
£1/2 trillion. Must be chickenfeed to the likes of yourself.
Pssst. I dont read the guardian. I read the Express, Times, Spectator,Mail, NY post and occasionally the Telegraph
That's rubbish.
Not surprisingly (being a bit dim and always wrong) you are confusing the once public now privatised companies which sell you electricity and gas (which barely break even) and the always private companies which drill and produce gas and oil. And as I said, 78% of the profit they make out of the North Sea and any UK waters or land production sites goes straight to the UK government in royalties.
Whatever companies which are multinationals make elsewhere, and most of them work all over the planet, is not a matter for envious British communists to carp on about.
If they are headquartered here they will pay whatever corporation tax is due on those profits, but they'd be crazy to pay profit made elsewhere in the world anywhere but in a low tax domain. maybe like Ireland, which had the wit to charge the lowest corporation tax in Europe pretty much, and got a lot more money into the Irish treasury by doing that.
It is perfectly legal and proper to do that. They just set up a company headquarters in Ireland and pay their tax there. Amazon, Ebay, numerous drug companies and others do that. If we want that tax money, the government should drop the rate of corporation tax.
Equinor one of the major UK gas suppliers (about 40%) is a Norwegian company. What has its profits which are 68% owned by the Norwegian people got to do with you? If you want their gas, pay the fking bill and shut up, or turn it off and get a blanket.
Last year they paid $20Bn in taxes, $700 million in royalties, $2.2 Billion in government entitlements, and $119 million in fees. The Norwegian government owns 68% of the shares and profit.
I utterly despise snivelling left wing whiners whinging on about how people with ten times their brain power and a 16 hour a day work ethic make money and have a nicer life than them.
Reading the Telegraph is no great advert for intelligence. I dropped that years ago.
Not surprisingly (being a bit dim and always wrong) you are confusing the once public now privatised companies which sell you electricity and gas (which barely break even) and the always private companies which drill and produce gas and oil. And as I said, 78% of the profit they make out of the North Sea and any UK waters or land production sites goes straight to the UK government in royalties.
Whatever companies which are multinationals make elsewhere, and most of them work all over the planet, is not a matter for envious British communists to carp on about.
If they are headquartered here they will pay whatever corporation tax is due on those profits, but they'd be crazy to pay profit made elsewhere in the world anywhere but in a low tax domain. maybe like Ireland, which had the wit to charge the lowest corporation tax in Europe pretty much, and got a lot more money into the Irish treasury by doing that.
It is perfectly legal and proper to do that. They just set up a company headquarters in Ireland and pay their tax there. Amazon, Ebay, numerous drug companies and others do that. If we want that tax money, the government should drop the rate of corporation tax.
Equinor one of the major UK gas suppliers (about 40%) is a Norwegian company. What has its profits which are 68% owned by the Norwegian people got to do with you? If you want their gas, pay the fking bill and shut up, or turn it off and get a blanket.
Last year they paid $20Bn in taxes, $700 million in royalties, $2.2 Billion in government entitlements, and $119 million in fees. The Norwegian government owns 68% of the shares and profit.
I utterly despise snivelling left wing whiners whinging on about how people with ten times their brain power and a 16 hour a day work ethic make money and have a nicer life than them.
Reading the Telegraph is no great advert for intelligence. I dropped that years ago.
income tax pays for the electric its a scam my meter says npower yet pay edf for the electric so what equipment they they own and maintain to keeps my propty connected to the grid ?
ie sub stations power cables and what power station do they own that sell me my electric?
the national grid owns everything they just scam you via gov corporation fraud for there private profit/ share holders.
yet i have proven if you are on a priority list ie disabled they cant fit a pre pay meter and when rang edf after bitch died owed 16k but as over 6 years old statute barred yet they still tried it on and according to the ombudsmen any bill like this is not payable over 12 months old after death via probate.
and our local PowerStation burns our rubbish for power n edf dont own that either
dwp tomoz as buying my council house on universal credit i got 70k+ in account and not shut down claim yet
ie sub stations power cables and what power station do they own that sell me my electric?
the national grid owns everything they just scam you via gov corporation fraud for there private profit/ share holders.
yet i have proven if you are on a priority list ie disabled they cant fit a pre pay meter and when rang edf after bitch died owed 16k but as over 6 years old statute barred yet they still tried it on and according to the ombudsmen any bill like this is not payable over 12 months old after death via probate.
and our local PowerStation burns our rubbish for power n edf dont own that either
dwp tomoz as buying my council house on universal credit i got 70k+ in account and not shut down claim yet
Ranting at a computer screen about a complete strangers opinions which may differ from yours.
You need to calm down before you have a heart attack or stroke.
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Tell that to the Chinese who burned 4 Billion Tonnes of coal last year. Tell it to the Indians who burned a billion tonnes (with planned expansion) and the USA which burned half a billion tonnes (not to mention its voracious oil and gas consumption.
By contrast the UK burned 2.1 million tonnes of the black stuff.
This is already a low carbon outputting country and emits only 1% of the world's co2.
Although China is slightly higher per capita CO2 emissions than us, than doesn't account for emissions embedded in traded goods : We are importing "emissions" in traded goods without them being accounted for
My impression is that the big emitters whichever measure you use to calculate them, are not going to change. Indeed they are intent on increasing them.
One of the reasons we almost lost our ability to make virgin steel this week is the energy cost of operating here. Some may say that this doesn't matter because we can buy hi tech steel from China or elsewhere, but that assumes a free trade environment and cordial relationships with large world powers. That was the underlying theme in Europe building a reliance on Russia for gas and some of its oil, but of course, the thinking crumbled away in February 2022. We are also of course in a parlous trading situation with regard to Trump's efforts to collapse free trade. He is now talking of penalties for those who trade with China.
High energy costs in the UK while others have VERY significantly lower costs are not sustainable - and these cost differences are nothing whatever to do with energy production being in the hands of private corporations as was asserted here yesterday. The same private corporations produce the entire oil and gas supply for the planet.
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