Don't pay in October

https://www.boards.ie/discussion/comment/119559346#Comment_119559346

Would say increasing their profits at this time would be appropriate.

magicbastarder

electric ireland will be charging 43.3c per kWh from october for standard domestic pricing. i just checked with my boss who lives in germany; he checked a price comparison website, and this is the cheapest new contract now listed:

"12month contract, monthly base fee of 19 Euro, 0,63 per KWh"

https://www.boards.ie/discussion/comment/119559415#Comment_119559415

I wouldnt.

Are you saying they are increasing their profits at this time?

If so, then what evidence is there to show this.

If not, then why are you asking the question?

https://www.boards.ie/discussion/comment/119559433#Comment_119559433

They made their bed, when they did a deal with Russia though. Are we expected to bail them out again.

https://www.boards.ie/discussion/comment/119559436#Comment_119559436

Because thats what the fuss and this thread is about.

https://www.independent.ie/irish-news/politics/esb-made-record-679m-profit-last-year-as-thousands-of-homeowners-struggle-to-pay-soaring-energy-bills-41425620.html

The issue I have here is the precedent of the insurance industry where we had a multi-year campaign of demonising insurance firms in the press, despite the fact hat policy prices where shooting up due to high settlement costs and very generous court awards.

In response to this , the insurance companies - many of them just pulled out of Ireland altogether - which made a bad situation much worse.

Same is happening with Landlords/ property sector.

You may get personal satisfaction by putting the boot into electricity firms, and by getting your politicians to do so. But it might not make things better.

https://www.boards.ie/discussion/comment/119559462#Comment_119559462

That's disingenuous on many levels.

Or more correctly the insurance companies were being disingenuous on many levels.

https://www.boards.ie/discussion/comment/119559459#Comment_119559459

The profit they are making is largely a result of the pricing mechanisms which they could certainly look at changing, but they are categorically not the primary cause of the price increases. If every energy company committed to zero profit status for the next year we would still be facing an energy cost crisis

https://www.boards.ie/discussion/comment/119559517#Comment_119559517

Quite the leap from record profits to zero profits.

mickdw

https://www.boards.ie/discussion/comment/119555648#Comment_119555648

Ya the minister that introduced FIT with a minimum rate of zero should be taken out and hung. It just shows that his green agenda is more bluff than anything else and he is happy to let the big dirty energy companies screw us all.

https://www.boards.ie/discussion/comment/119559473#Comment_119559473

Thats just a statement of opinion without anything to back it up.

https://www.boards.ie/discussion/comment/119560364#Comment_119560364

Its an industry that every time its asked, quotes a wildly different prices for the same thing.

If it quacks like a duck. Its probably a duck.

https://www.boards.ie/discussion/comment/119559839#Comment_119559839

And yet it still wouldn't fundamentally alter the pricing landscape.

The profits are an artefact of the pricing mechanisms, not the cause of the price increases.

Leg End Reject

https://www.boards.ie/discussion/comment/119555127#Comment_119555127

What do you mean by "bad credit references"?

Utility companies don't report unpaid bills to the Central Credit Register, only regulated financial institutions can.

There is a "debt flag" which may mean you can't switch providers if the arrears are over a certain amount, so you can be cut off and have to pay a reconnection fee along with the outstanding balance.

https://www.electricireland.ie/residential/help/switching/what-is-a-debt-flag

https://www.boards.ie/discussion/comment/119560494#Comment_119560494

Which is more important. Propping up the record profits of a outsourced utility, or servicing the needs of your population.

Ultimately thats what it comes down to.

Where are the record profits?

Its a genuine question - you are talking in cliche and riddle about quacking like ducks and so on.

Please share the accounts of the utility company that is recording these bumper profits in Ireland.

Its very easy to say this stuff......

https://www.boards.ie/discussion/comment/119560534#Comment_119560534

I don't know what about this you are failing to understand. You could mandate that all retail energy companies have to work on a non-profit basis as of tomorrow and it wouldn't come close to solving the issue.

The problem is the cost of energy and fuels on the international market.

https://www.boards.ie/discussion/comment/119560599#Comment_119560599

Its a vexatious question nothing genuine about it.

davo2001

https://www.boards.ie/discussion/comment/119560599#Comment_119560599

Here is one anyways:

ESB made record €679m profit last year as thousands of homeowners struggle to pay soaring energy bills

https://www.independent.ie/irish-news/politics/esb-made-record-679m-profit-last-year-as-thousands-of-homeowners-struggle-to-pay-soaring-energy-bills-41425620.html

https://www.boards.ie/discussion/comment/119560646#Comment_119560646

So now I don't understand and we are back to non profit.

https://www.irishexaminer.com/news/arid-40898102.html

The Department of Energy, Climate and Communications is examining whether to take action against companies who are making hyper-normal profits throughout the crisis.

bad2thebone

Grew up in the gilted generation myself and I'm ok if everyone said feck it, lets goooo...

What's the worst could happen, we're all in this together.

Conspiracy theorists are saying it's being done to break the present system and set up the fourth industrial revolution, and some guy called Klaus Schwab in the WEF is engineering all this.

I just think it's a coincidence, what power does some guy like him have nothing....

I love this scene.....

https://youtu.be/dGdfPtW56fo

https://www.boards.ie/discussion/comment/119560682#Comment_119560682

This is really not complicated. We are "back to non-profit" because I am trying to explain to you the scale of the problem. The issues are categorically NOT CAUSED by the profits of the retail energy companies in Ireland. You want to tax them more go nuts, but it will bring around a few percent of the money needed to address the scale of the problem.

Unless you are talking about a windfall tax on BP or Shell (or Gazprom!), none of which we can do, then it is basically irrelevant. The international energy markets are not coping with the current situation, prices are skyrocketing and because we are not an enclosed self sufficient market that means all of our prices are affected also.

The energy companies in Ireland are incapable of providing energy to their customers at the current levels come winter. It is an impossibility. It will require govt intervention and funding in some manner. I don't understand what your argument is, but you seem to think that cutting energy company profits will help when it will have a tiny impact.

Seth Brundle

We run the gas off the electricity and the electricity off the gas and we save two hundred pounds a year!

https://www.boards.ie/discussion/comment/119560727#Comment_119560727

Whats not complicated is I never claimed that profits were the cause of the energy crisis or are the sole means of fixing it.

https://extra.ie/2022/09/02/news/irish-news/bord-gais-becomes-latest-energy-supplier-to-announce-significant-price-hikes-from-october

'We are also pledging 10% of our operating profits to our Energy Support Fund to help customers of ours who simply can’t afford to pay for energy this winter. We are working with a number of organisations to help customers access this fund, which has already supported many eligible customers facing difficulties.

Some might be interested in this.

https://www.boards.ie/discussion/comment/119560834#Comment_119560834

I have no earthly idea what your point is at this stage to be honest.

The core point of the thread seems to be that if people stop paying energy providers or start hopping between energy providers one will eventually provide affordable rates. That is not going to happen.

https://www.boards.ie/discussion/comment/119560885#Comment_119560885

I think the point is do something, at least in protest rather than just accept the generation of massive profits meekly as you seem to be accepting.

[Deleted User]

https://www.boards.ie/discussion/comment/119560885#Comment_119560885

Or if they stop paying,the energy producers would go broke,and leave the market,

Being an utterly essential service,it would then return to state control,with a political slant to it,and make to work for populace.......

I question the commitment of many to see it through tbh though

yeah, I don't think enough people would follow through either.