On Wednesday, British Gas raised gas bills by 35% with immediate effect, to restore "reasonable profitability".
Profits were £992m in the first six months of 2008 , £5m-per-day profits .
"This is a business that has got a million shareholders - a lot of pension funds and people have got their savings invested in British Gas shares and we have to look after them". Centrica's chief executive said.
One-in-three pensioners are likely to be in fuel poverty this winter Age Concern's head of public affairs said.
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
You could say things hotting up in the energy sector.Within the inherent contradictions of capitalism,we have all sorts of interests,in conflict, which prevents energy from going to the ones in most need of, it in puruit of profits,all made to look entirely rational.This justifiation of the market is insane in a rational society.
ReplyDeleteMC
Our fellow blogger Patience and Perseverance points out that while consumers received a bill hike , investors received 16% rise in share dividends.
ReplyDeletehttp://patienceandperseverance.blogspot.com/2008/07/centrica-announces-higher-than-expected.html