John Major,windfall tax (of sorts) on power companies.

Leekbrookgull · Oct 22, 2013

On the face of it to a degree seems a reasonable idea but as some of the coments posted is it as easy as that ? There does seem the impression the CMD does not care ? Where as Red Ed's policy seems to be written on the back of a beer mat.http://www.bbc.co.uk/news/uk-politics-24621391

Goldstone Rapper · Oct 22, 2013

Didn't Major oppose Labour's windfall tax on privatised utilities in 1997?

Sounds like John Major is the re-incarnation of New Labour!

Questions · Oct 22, 2013

A Robin Hood tax but on the utilities............. Yes please.

Mileoakman · Oct 22, 2013

I have a sneaking suspicion that all these fines and windfall taxes just get shoved back on the customer by way of increased charges. For instance if EDF have a windfall tax to pay say of £10mill they only have to increase their unit price of there gas or electric by a fraction of a penny and they get it all back.

Raleigh Chopper · Oct 22, 2013

And the government have dismissed it without a thought, lets face it they just dont care. The energy companies are putting up prices again and all they say is switch, but they will all put them up and they are all similar in price range.
Surely the government know that what a ridiculous thing to say.
Milliband had the chance to sort this when he was energy secretary but did nothing, now he comes out with a plan as the election nears. It is such a monumental rip off that all parties should have sat down and sorted this years ago but still people freeze or go hungry, what a disgrace.
But of course the politicians are all in it together as well.
The energy companies are so obviously in a cartel and should penalised in a big way. I'm no leftie but it is out of control and should be re nationalised or its time for the people to say no more, they cant put us all in the pokey.
To be honest I am sick of all the cons, rip offs and the political parties. And its always on the things you cant do without, gas, electricity, water, fuel and train fares for work.

yxee · Oct 22, 2013

Mileoakman said:
I have a sneaking suspicion that all these fines and windfall taxes just get shoved back on the customer by way of increased charges. For instance if EDF have a windfall tax to pay say of £10mill they only have to increase their unit price of there gas or electric by a fraction of a penny and they get it all back.

Bingo

Corporate Britain isn't just some pot of gold you can take from without any consequences, I'm just surprised this idea came from a Tory.

Raleigh Chopper said:
The energy companies are so obviously in a cartel

You must know something Ofgen doesn't, because that's never been found to be the case.

Say you and five friends have competing lemonade stands. If Tescos increases the price of lemons by 5%, does that make you all a cartel by passing that on? This is the energy supply market in the UK.

Raleigh Chopper · Oct 22, 2013

yxee said:
Bingo

Corporate Britain isn't just some pot of gold you can take from without any consequences, I'm just surprised this idea came from a Tory.

You must know something Ofgen doesn't, because that's never been found to be the case.

Say you and five friends have competing lemonade stands. If Tescos increases the price of lemons by 5%, does that make you all a cartel by passing that on? This is the energy supply market in the UK.

Ofgen are as effective as an ashtray on a motorbike.

beorhthelm · Oct 22, 2013

cool idea. a wind fall tax to pay for increase in the winter fuel allowance... which the companies will then re-coup by another increase on the rest of the bill payers.

when will people realise its the regulation that causing this high energy cost in the first place. see nuclear plant deal, best the government could get was 2x current wholesale price, though thats still half the cost of wind. reason? coal and shale power sources are ruled out, so its a sellers market.

i also read this week that the EU imposed carbon credits where increased from €5 to €30 a couple of years ago, yep in the middle of the recession. why? because they are auctioned by governments who pocket the money, so its effectly a back door tax. raised a nice £2-3billion each for the major EU governments (including ours). oh, and industrial power supplies are given a bye from the scheme, so energy hungry industry doesnt go out of EU: therefore the consumer market has had to bear all the cost of carbon trading. final salt, we're ahead of target on carbon reduction, so the regulations could be eased off for a few years and still be on track.

yxee · Oct 22, 2013

Raleigh Chopper said:
Ofgen are as effective as an ashtray on a motorbike.

So the problem is that a government department is ineffective, and the solution is to re-nationalise the energy industry?

Baby out with the bathwater...

Raleigh Chopper · Oct 22, 2013

beorhthelm said:
cool idea. a wind fall tax to pay for increase in the winter fuel allowance... which the companies will then re-coup by another increase on the rest of the bill payers.

when will people realise its the regulation that causing this high energy cost in the first place. see nuclear plant deal, best the government could get was 2x current wholesale price, though thats still half the cost of wind. reason? coal and shale power sources are ruled out, so its a sellers market.

i also read this week that the EU imposed carbon credits where increased from €5 to €30 a couple of years ago, yep in the middle of the recession. why? because they are auctioned by governments who pocket the money, so its effectly a back door tax. raised a nice £2-3billion each for the major EU governments (including ours). oh, and industrial power supplies given a bye from the from the schemes, so energy hungry industry doesnt go out of EU: therefore the consumer market has had to bear all the cost of carbon trading. final salt we're ahead of target on carbon reduction so the regulations could be eased off for a few years and still be on track.

You obviously know your stuff on this but there is always two sides and the facts remain that many can no longer afford it. The old and poor are in fuel poverty and choosing to heat or eat. Something has to be done about it and I and many others know that something is very wrong and stinks and Ofgen have not had the teeth to regulate them.

beorhthelm · Oct 22, 2013

Raleigh Chopper said:
You obviously know your stuff on this but there is always two sides and the facts remain that many can no longer afford it. The old and poor are in fuel poverty and choosing to heat or eat. Something has to be done about it and I and many others know that something is very wrong and stinks and Ofgen have not had the teeth to regulate them.

you miss the point. Ofgen are not toothless, they practically set the energy companies profit margin. the costs are down to regulation: carbon trading, green levies, carbon taxes, increased infrastructure costs to support the diaspora of renewable energy production. we are about to charged £60 per house to pay for a smart meter, which are known to not work long term. if we want green energy we have to pay for it, and it should come from general taxation if you are to avoid the poor and elderly (and not so poor or elderly) to be hit with price rises. or we could suspend some regulation for a few years, allow a few coal power plants, or extract some shale. or we can cry at the energy copmanies for their evil following of government policies (created largely by Miliband btw, though the current lot have stuck their hand in the sand).

seagullsovergrimsby · Oct 22, 2013

yxee said:
So the problem is that a government department is ineffective, and the solution is to re-nationalise the energy industry?

Baby out with the bathwater...

Ofgem , the regulatory body that is supposed to ensure the consumer isn't being ripped off by the gas and electricity suppliers

Labour should be telling the Big 6 that a 4% increase in overall running costs doesn't give them carte blanche to raise prices by 10% and apart from the price freeze there will be a windfall tax to recoup excessive price rises between now and the 2015 GE.

Ernest · Oct 22, 2013

John Major stuck the boot into IDS too big time, can't wait for PMQ's tomorrow to see Cameron squirm

vegster · Oct 23, 2013

Good for John Major It's nice to hear that he is on the side of the poor and oppressed. Pity it took him all this time ( Thatcher croaked six months ago, maybe he was waiting just to be sure ?) to find the balls to say it.

Winker · Oct 23, 2013

The problem with a windfall tax is that the public will remain ripped-off, the money will go into the Government coffers instead of to the power companies.
The way to make energy affordable to the public is to reduce prices and the way to do that is what others have said - scrap the un-affordable green taxes or move them to general taxation.

warsaw · Oct 23, 2013

Winker said:
The problem with a windfall tax is that the public will remain ripped-off, the money will go into the Government coffers instead of to the power companies.
The way to make energy affordable to the public is to reduce prices and the way to do that is what others have said - scrap the un-affordable green taxes or move them to general taxation.

So what about future generations, our great-grandchildren ? As fossil fuels run out what is the scenario for 100/ 200 years time? If we haven't developed alternatives I dread to think how life will be. But hey, that's their problem.

Ernest · Oct 23, 2013

Cameron got smashed at PMQ's today, he hasn't got a scooby

beorhthelm · Oct 23, 2013

Ernest said:
Cameron got smashed at PMQ's today, he hasn't got a scooby

for what? saying they will review green taxes? about bloody time. and its here and now, not a maybe if Miliband wins and sticks to his policy (which wouldnt reduce energy prices anyway)

Tricky Dicky · Oct 23, 2013

beorhthelm said:
for what? saying they will review green taxes? about bloody time. and its here and now, not a maybe if Miliband wins and sticks to his policy (which wouldnt reduce energy prices anyway)

Did he not say he'd review in the next year ? I may have misheard, but if so, not exactly "now", and doesn't help anyone with this price rise.

Westdene Seagull · Oct 23, 2013

yxee said:
You must know something Ofgen doesn't, because that's never been found to be the case.

Say you and five friends have competing lemonade stands. If Tescos increases the price of lemons by 5%, does that make you all a cartel by passing that on? This is the energy supply market in the UK.

Rubbish - the big six negociate their prices with the "generators" every 18-24 months ( according to an EON Director ). So you're really telling me that all the big six complete these negotiations at almost exactly the same time and always just before winter ? No - they follow each other and THAT is a cartel. It's a rip off and I find it bizarre that anyone can support the energy companies ( who's profits have increased by nearly 400% in the last ten years ). They are as bad as bankers.

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