Saturday 20 February 2010

British Gas Shareholders Profiting From Death

Andrew Brons MEP

National Scandal: British Gas Makes £550 Million Profit as Millions of Pensioners Cannot Pay Heating Bills

pay-bgThe Tory and Labour privatised British Gas supplier has made a profit of £550 million — while millions of pensioners are unable to afford heating bills in our country.

The 50 percent rise in British Gas profits means that its 15.7 million customers have been subjected to sustained exploitation in the face of one of the severest winters in decades.

Wholesale energy prices have fallen by 60 percent since 2008, but these savings have not been passed on to the consumer.

Instead, customer bills have come down by less than 10 percent, leaving a healthy profit margin for British Gas which, until Margaret Thatcher got her hands on it, was run for the benefit of the people of Britain.

According to the Office of National Statistics, there were 36,700 more deaths among the elderly last winter, up 12,000 on the previous year.

The ONS also said there were “millions” of pensioners officially described as being in “fuel poverty” — in other words, unable to meet the basic cost of heating their homes.

The Age Concern and Help the Aged charity ascribed the increase in deaths to “cash-strapped older people turning down the heating.”

Other privatised providers will not be declaring their profits. nPower and Eon hide their increased takings by merging their figures into the books of their German parent companies, as does EDF, which is French-owned, and Scottish Power, which is Spanish-owned.

It was the Conservative Thatcher Government which introduced the Gas Act of 1986 that led to the selling off of British Gas in December of that year.

Frank Chapman was appointed Chief Executive of the BG Group in October 2000. His remuneration for this role in 2008 consisted of £1,081,588 base salary and a £1,944,000 bonus.

* The British National Party will place the utility-supply companies back under state control so that they are once again run on a non-profit basis in the interests of the British people, and not to line the pockets of foreign shareholders.

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Adrian Peirson said...

This is why some industries need to be nationalised, Libertarians take note, if we the public make energy savings as we have been doing for decades, this cuts into profits.
What do the energy companies do in response, why they put their prices up of course.
The public are in a no win situation.

JPT said...

Capitalism, plain and simple.

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