Energy suppliers profit margins rocket up - no one is surprised
The brass neck displayed by the energy suppliers is almost beyond belief these days. There’s a constant stream of negative stories about them but the continue to plough ahead, collectively screwing us, the hapless consumers with our childish ‘dependencies’ on stuff like gas and electricity.
The latest jaw-dropping stat has come from Ofgem, and reveals that the average domestic gas and electricity bill has shot up to £1,345 a year, adding that energy companies make an average profit of £125 per customer per annum, up from only £15 in June. Which, to be blunt, is fucking obscene.
In retaliation, Ofgem have unveiled some reforms, insisting that tariffs are made simpler and bills are made clearer, so that the average punter can have more of an idea as to how much he/she is being screwed by these legalised bandits.
Ofgem CEO Alistair Buchanan said: “When consumers face energy bills at around £1,345 they must have complete confidence that this price is set by companies competing in a fully competitive market. At the moment that is not the case. That is why a radical break with the past is needed. Ofgem's tariff reforms offer the quickest way to create a market where consumers can have confidence that prices are set by effective competition.”
It remains to be seen whether any of this will make any difference. We doubt it.