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Energy Price Cap Bill announcement

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about time too, also refunds for all of over priced bills of at least £1500, for those upto 45 yrs old and £ 5500 for all people aged above, even that would not be the overpayment for 60 years

 

 

of course British Gas to foot 98% of it

Edited by Andyorch
edited

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about time too, also refunds for all of over priced bills of at least £1500, for those upto 45 yrs old and £ 5500 for all people aged above, even that would not be the overpayment for 60 years

 

 

of course British Gas to foot 98% of it .

 

The last time i looked, the cost of household and business energy in the UK was below the EU average. In Germany they impose charges to energy that comes from carbon, forcing decisions to be made to invest in Green technology. This has led to households and businesses investing heavily in solar power, wind turbines and micro generation. If you search on Youtube there are videos on the Framus Warwick Guitar factory in Germany showing how they have become virtually off grid. They produce enough electricity on site, that they can supply the local town with excess energy.

 

The UK has the opportunity to generate massive amounts of cheap energy, if it choose to invest in the infrastructure required. If businesses had to invest in technology to reduce their consumption, then you would see an increase in investment in green technology and creation of lots of jobs. This would have a knock on effect to household costs, as the technology should become cheaper and less competition for the energy available to buy.

 

Problem for government is that they split the energy production and supply industry into lots of different companies , therefore you don't have economies of scale to invest the sums needed and they are all too busy competeting. The competition means a huge administrative cost to the industry in dealing with all of the accounts. With the amount of customers transferring between suppliers, there is a cost associated with this transfer work, that does not help reduce bills.


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