My energy company announced a massive hike in profits a few weeks ago - I'm talking billions in PROFIT - not turnover. A few days later it also announced some 'cost efficiency measures' to further strengthen its position in a competitive marketplace. Basically this meant they were looking to reduce their wages bill by laying off a few hundred people.
Today they also announced that they were hiking up my electricity and gas charges by 21% and 29% respectively. How nice of them.
Why are they doing it?
Simple answer: GREED. The greed of the big fat cat shareholders, looking to further line their already richly lined pockets.
Oh how I miss the days when the Gas and Electricity 'Boards' as they were known, were controlled by the state. At least then an unpopular government could gain some ground by freezing price hikes, or cutting charges.
Bring back state ownership of the utilities. The competitive marketplace in essential utilities is a complete farce - there's no such thing as competition - they're ALL raking in millions and millions at our expense.
Rather than taking over troubled banks, the government should be investing that money into our utility infrastructure to rid us of the scourge of greedy private shareholders.
Rant over. Happy weekend. Stay warm - but don't put the heating on!!
13 hours ago