Thursday, 10 October 2013

Privatisation Doesn't Work: Example 498,597

As mentioned previously, Winters coming.

From the BBC 22 May 2013: 'Energy supplier SSE has reported a rise in annual profits on the back of cold weather, despite recent disruption to services and a fine from regulators. The company reported adjusted pre-tax profits of £1.4bn for the 12 months to the end of March, up 5.6% on last year'.

From the BBC 10 October 2013: 'Consumer groups are predicting that the UK's other major energy suppliers will raise prices after SSE announced an 8.2% increase in domestic bills. SSE said that the rise reflected higher costs of buying wholesale energy and paying to deliver it to customers' homes'.

Renationalise everything. EVERYTHING!!

1 comment:

Anonymous said...

all those numbers are meaningless to me.

what is their after tax profit? for a utility (low risk business) 6% to 8% is reasonable.