Adil Asks Ofgem CEO Why Energy Bosses Can Profit While People Struggle to Heat Homes
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- čas přidán 11. 09. 2024
- It's been announced that energy bills will increase by 10% from October.
OFGEM boss Jonathan Brearley says 'this is not welcome news'. Adil questions the OFGEM boss on why energy bosses are allowed to make millions in profits while normal people are struggling to afford to heat their homes.
Broadcast on 23/08/24
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#GMB #ofgem #energyprices #costoflivingcrisis
This Guy earns £300k per year,why do you expect him to bother. Disband this Quango which is not fit for purpose. A disgrace
Many agree with you and again new new labour repeating 7ories mistakes again - for not reigning in inept Ofgem and the greedy energy companies - thus making themselves rich and another record profits will be announced shortly with UK Plebs being hit in the pocket a) Another crippling energy bill rise; likely another rise next spring b) Dangerous Scrapping of winter fuel allowance for OAP - likely have to decide between heat vs eat; getting illnesses in their damp dwellings and landing up in Hospital, e.g., pneumonia; bucking the NHS c) Increased inflation = cost of living crisis; increase interest rates, higher food costs, public sector workers again demanding pay increases and striking. Even with this GOV will keep on its programme - expect more pain in October Budget ( £22bn budget shortfall) - and GOV can still remain in GOV for at least another 4.75 years with their super majority and lack of credible and united opposition to them
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Establishment and corporations work together to rip you off.
"EARNS" . ? ? , HA ! HA !
@@lizspring8571 thanks for that contribution Rupert!
love how gas goes up just as the weather gets colder
Government can change the rules but they dont.
@@keirmitchell5560 They will be shareholders,
Petrol is the same always around holiday times.
And you lose your job!
And we sell our U.K gas to Europe and Ireland
This Ofgem guy, is a joke!
I feel sorry for him. 😂
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Yes , and the " joke" is on us , the population !
Ofgem is a joke
How much do the Ofgem bosses get from big energy companies?
Still not doing anything about standing charges. My July bill was £15.60 for electric and gas usage and £27 for the standing charges. Ofgem are a waste of space.
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Unfortunately, standing charges can never go down, we need to finance a gigantic upgrade to the grid to accommodate more renewables. As Al Gore said, an Inconvenient Truth?
@@paulb9453record profits could pay for improvements to the network, but instead the profits are paid out to shareholders.
You people getting karma for colonialism
A few years ago I was paying £60 per month for electricity. Now I am paying £200 per month.
Same here and still no answer from upstairs GOV to fix P1-P5
Ditto.
But you all voted for net zero
@@paulmessenger9836when was that vote?
Until recently I was 500pcm!
Another regulator and another example of how they fail us. They are powerless by design.
End the 'standing' charges.
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Is this a joke? seriously only a year or so ago we started paying in a month what we had paid quarterly!! Why is this even justified?
The customer getting ripped off , its all a con, its a disgrace, and ceo,s on million,s a year wages , off gem a waste of time for the British public.
And labour will do nothing
British economy is like, if you are rich you will get more richer, if you are poor, will continue to be poorer
Peter, it has always been that way, unfortunately it always will until the government stops % pay rises.
While everybody's focused on Channel dinghies,nobody is protesting against these rip off Companies.
Energy prices can be reversed. Immigrant invasions can't
@@adamcraig1468Think you've just proved my point. Stop complaining about dinghies and protest about rip off energy prices.
Ofgem isn't worth the money we borrow to pay their wages, time to change the scope of it, otherwise it'll always be considered a "regulator"
The energy companies advice is if you can't afford your energy bills don't use any' but we'll still make you pay the standing charge 😅😅😅
This joker justified not regulating energy companies that are making millions/billions that they might go out of business. This is the trouble. It's not true.
At least the mps have their energy allowance whilst taking from the most vulnerable in society
What about people who aren't pensioners, that are on less than £12,000 a year? They don't get a fuel allowance
The UK needs more entrepreneurs and that's as direct as any of us can be. Bills won't be coming down. Constituents need to band together and unleash new ideas.
@@NBush-nz8phYep, nationalise all crucial services and run them as non profit organisations! This will stop few getting rich and will look after people that pay for it all!
They can claim other help from the government.
Look at the PROFITS that the energy suppliers are making. These suppliers do not care about their customers. Only how much they can claw from them. The new labour Government should
introduce a windfall tax, like they promised.
Then prices just rise higher in other areas to offset the cost of taxation.
@@Science67676not if the government legislate against that they won't.
It's not that it's not possible, it's that the governments don't have the courage to take on the rich
One big scam
Profiteering from poorer people well done
Labour now has a super majority. They could pass a law forcing Ofgem to freeze the cap at current levels, but they wont b/c they are just as in hoc to the energy barons as the Tories.
The Labour/conservative parties are one and the same!
Last February (2023), my direct debit was £300 that month for gas and electric. Never in all my years have I been charged that for utilities - NEVER. I live in a 2-bed house, and my son and I are away all day, meaning the heating was mostly off. These people are crooked and greedy. The whole system should be revised. Energy companies should not be getting rich off the people who have no choice but to pay.
Try cancelling your direct debit and pay for what you use instead. I have saved money by doing that.
This is too much. Prices are dropping in France.
France has significantly lower energy bills because they heavily invested in nuclear energy.
@@NBush-nz8phthey also told EDF they had to sell the state the last 20% of the company so it is basically state owned.
GREED !!!
Was just about to say that beat me to it
Another CEO on the telly telling people that he's sympathetic to peoples concerns when he's on a CIRCA 250k a year slaery with million pound bonuses disgraceful
Says the man who earns a massive salary, completely out of touch with reality
A history of the decline of britain since the 1990s 😂 were finished get used to it. These people couldn't give a toss about the citizens.
Ofgem is completely useless. This guy is all but a spokesman for the energy companies
Convenient how the price didn’t go up in the spring / summer
All by design mate. Only goes up when people need it most. It's pure greed.
That is the economics of supply and demand. We as a country are using far less gas in the summer months. October sees some electricity generators using more gas and the same with households. This is all about the price of gas caused by increased demand.
The fact he shrugged his shoulders when he said this will be difficult.
Its pure greed. And we freeze
What a load of "hot air" from the CEO!....and that would be welcome, especially for us pensioners double whammy! loosing the government help, plus 10% increase!
And more pain mooted to come in October Budget
British Gas profits rises to record levels £969,000,000 profit.
Imagine being poor andnhaving to pay £334 before you can use any energy at all?
Standing charges punish the poor.
Headline should be:
Ceo of OFGEM smirks whilst trying to justify the increases
Ofgem is not a regulator they protect the big energy companies
i use approx £10 of electric every month and my standing charge is always around £20 a month then they add vat..
Ofgem are in cahoots with the energy suppliers. They should insist that energy companies buy their supplies on longer contracts (especially during summer months) to stabilise prices. They could have also copied the French and capped their profits at 4% instead of allowing British suppliers to increase theirs by a whopping 900%!!
My employer tells me that inflation is now down to 2%. So, there is no need for a wage rise.
Can send man to the moon but cant work out how to give people self sustained energy .
They can, they just don't want to. They only care about maximising profits, and that I'm afraid, is all that matters.
They shouldn't be getting salary increases or bonuses while people struggle
take gas and electric back from the suppliers and put them in jail
Asked how much cheaper energy bills would be under a Labour government in May, Starmer pledged to cut bills by £400 so rather than bills go down they’re going up and what about the scrapping of the winter fuel allowance for our poor suffering pensioners!
How many more lies?
How on Earth are we all supposed to afford this???
Don't forget water bills are also due to go up and council tax next year.
It doesn’t affect these rich people making these decisions. They really don’t give a stuff, & the profits just go up & up.
Pay what I can afford and that’s it, no direct debit. Greed
Same.
Same with me
Robbing the people as usual they have enough money don’t let them fool you
"Still not doing anything about standing charges. My July bill was £15.60 for electric and gas usage and £27 for the standing charges. Ofgem are a waste of space"
This Ofgem guy speaks out of his backside, all hot air and no action on energy supplier companies.
Cut the rip off standing charges
i) Get rid of OfGEM, supposed to work in the consumers best interests, but they DON'T, they work in the interests of the suppliers
ii) Labour said they would reduce the cost of energy, after their first seven weeks in office, what do they do, but increase the consumer cost by 10%
iii) Oh and those standing charges, a totally rip off, what do they actually pay for? And how can they be justified? These charges MUST be reduced to the 2021 levels which were still increasing then but much fairer then the current rip off costs, an absolute and total con, stealing money out of our pockets.
His excuse for the standing charge was unintended consequences, that the vulnerable would be affected as they need to use more energy. Well in that case tweak the benefit system to cover the vulnerable. Pretty simple.
Milking society to pay share holders
Get rid of this regulator
Standing charges are the biggest scam
Why are customers charged for a product that the suppliers need to provide the supply.. its ridiculous
This is just blatant robbery. These ppl make record profits while pensioners suffer. Disgusting.
So inflation is just above 2%, but energy prices are rising 10%. No reason for this, apart from greed!
Renationalisation is the only way forward.
Russia have loads of cheaply priced gas but European governments don't want cheap gas.
US oligarchy don't want European governments getting cheap Russian gas.
No, they don't want to fund the orc military
This is as bad as the water companies,they want to hike prices to customers but are still paying their shareholders millions?
This is criminal.
Gas prices on the open market are at a historical low at 1990's level at around 2 usd/mmbtu. Profits for BP/BG/ fuel taxes are historically high with an inverse relationship. Meaning we are being conned.
I used to work for Ofgem... one thing I can say for a FACT ! this guys gas and electric is paid for by us.. his not paying a penny for his bills and a few of the other top dogs at Ofgem are also getting their bills paid !
How is taking the standing charge off and putting it on unit rate going to help. This is exactly the reason why Ofgem needs to go. The cost of maintenance and infrastructure should come out of company profits, not the customers in the form of standing charges.
What is the point of Britain aiming for net zero when so many other countries are building or are still using coal fired power stations. Wind & solar will never supply us with enough energy & why aren't all new builds being fitted with solar panels, whats going to happen to all the caravan holiday sites with LPG gas, why doesn't the government make new builds have heat pumps fitted & give the grant money to the buyer's to help them with their deposit also shouldn't electric car charges be fitted on all new builds. The government should start thinking practically instead of just trying to please the environmentalists. The materials required for electric cars does as much damage to the planet as oil & gas.
Time to nationalize energy companies so there are no profits made and the profits got to consumers.
This is legalised racketeering the mafia were saints compared to this corrupt shower
These people don't care, just listen to this man, we can't, we won't, we don't care.
Let them go bust and renationalise supply. Privatisation has given us 6 big energy companies who are making out like bandits while OfGem seems more concerned with keeping the private market buoyant at our expense.
The labour government should of stepped in and blocked a price increase. After all they are Labour.
You are joking, of course.
@@ohyesitsme why! Who is your horse politically?
Nope it is no Longer the Labour party and hasn't been for years and starmer has basically made it a red Torie 2.0 party basically no difference between the conservatives and Labour
@@chriswilliams8121 hard left politics is a busted flush mate!
Jeremy Corbyn was hounded out of politics because of his views/policies despite him being right on many issues. But he was unelectable.
I do believe that the Government should hold Ofgen's feet to the fire regarding the rise in the energy cap. However there are only two types of Gov't that Britain can have and this one in far and away a better option than the Tories.
The real truth is something else and this is greed. The CEO is deflecting, he is not answering the questions. Is the regulator truly independent? Nationalise the utilities and get rid of the so called regulator who might be profiting from the misery of the masses.
I hardly use gas, so why is standing charge so high. Not all of us can claim benefits as we fall outside threshold by a few pounds
Excellent questions from Adil!
AAAARRRR poor energy companies, only made £280 million in profit last quarter, down from £340 million, they have to do something to get that back, the shareholders are not happy.
Simple it's greedy companies. Drop the price in summer when demand is low then hike the price in colder weather when demand rises to maximise profit
something that should cause public disorder , but nothing happens, a disgrace !
Maybe I'm not as clever as some of these people but the maths doesn't add up, so it's costing more for gas and electric because wholesale prices are higher but the energy companies and ceos are earning more money where is this extra money coming from if not from the consumer that guy is just a mouthpiece
Day light robbery...
The role of ofgem is to work to protect consumers and they're failing to do that on a massive scale.
No doubt Russia will get the blame.
Effing disgraceful. CEO’s earn millions and billions paid out in dividends…. Renationalise the utilities. They do not reinvest back into the infrastructure.
End standing charge,s remove VAT and remove the green levy that seems to have been a waste of our money.
Rip of Britain as usual.
The choice is between eating and feeding shareholder's bank accounts.
This is why we need to renationalise our energy!
In Europe we‘re down to 0.15€ per Kilowattstunde. It was 0.30€ last year. Brexit enabled price gouging
How much does this pratt earn don't do anything. He works for the energy companies.
So its going up under labour? I see
It was always going to go up this winter. It was one of the reasons why the Tories called the election when they did.
For winter fuel payment qualification, raise the cut off point from £12,600 Pension Credit level to £20,000 across the board.
The Council Tax method will not target the poor.
Also, the current fixes were established BEFORE this10% increase announcement, so they will be quickly revised if not already have been.
Total BS from this guy. Prices going down so buy gas now - what hog***t
British Gas profits for 2023 increased 10-fold to £750m.
SEVEN HUNDRED AND FIFTY MILLION IN PROFITS.
Let that sink in.
Fail to pay if you're scraping by on a pension with NO winter fuel payment and thanks to smart meters they will simply cut you off and let you freeze to death.
That's about £25 per household.
@@malcolm8564 Incorrect. Not everybody uses BG. You're assuming all 28 million households within the UK are doing so.
How come Europe's gas is cheaper than the uks when it comes from the same pipeline???
Not fair and not right. People are still struggling with high mortgages, high rents, high food costs. And the world keeps spinning. We need some sort of intervention.
Not sustainable in the long run.
We have to remember that no heat will be worse health, more property damage and other costs that will be hard to cover. Prevention it’s better than the cure.
In France they pay energy 4 times less than us
And were helping to subsidize it!
Wait so these guys were setup to get prices down but instead theyre helping energy providers raise increases. Theyre all in cahoots to take the P out of us little people.
And if you wanna get solar panels they now charge you fees and taxes.
If you die theres death taxes.
if you leave your family money, theres inheritance tax.
If you rent out your room theres bedroom tax.
council tax.
food goes up and theres scarcity.
road tax.
congestion charge.
ulez charge.
electric car charge coming in 2025.
tv licence increase.
transport fares increase.
rents and mortgage increase.
school fees increase.
Where dose that guy live? Lol he needs to know people will ask this question when there nans and grandads starve and freeze to death this winter
Many say these CEO's , regulator and energy companies need to be held account
The international price has gone up again. Meanwhile, the energy companies are making record profits and giving out record dividends. I call BS
Why does he sound like he is talking FOR the Energy Companies and not for us .
Corrupt Ofgem. The presenter is right Ofgem is not fit for purpose.
You shouldn't need state benefits to be able to afford to pay your gas bill. This is complete BS. Ofgen back these businesses and do nothing for consumers. They are pointless
2 words Ed miliband
No, the price of Gas on the international market has gone up. Because we have privatized energy companies, it means they set the price not the government.
Neither of Ed or Milliband are words
@nathankail6428 No but "bell" and "end" are words.
Where is the publicly owned energy company Labour promised with all profit going back into the people not the disgusting bosses
Delink renewables prices from gas. The problem is the government guarantees renewables providers a price that now gives super-profits. Why can't Ofgem just say it as it is?
Passing on Labour's windfall tax to consumers. Indirect taxation.
Whatever happens, you have to pay sooner or later. This problem is mainly due to the green agender, in my view.
and many says greed of energy companies; making record profit on profit every Quarter.
Get rid of useless, worthless Ofgem now ! I don't believe a word that CEO said and he's definitely in the pockets of the big energy companies.