That Woman is not the person for the job, she’s just opening her mouth and letting her belly rumble.
She will IMO cause havoc if she gets in.
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Its a good question. But is the answer not quite obvious? There will be historic profit levels and peer group profit levels and even cross-industry sector profit levels. Should these dramatically change for one or for a small group of companies over a short period of time then it must look like excessive profits. Especially if these companies cannot evidence investments or changes they’ve made to drive this profit change.
For me, the harder question is what to do when excessive profits occur. Taxation? Regulation change? Price capping?
It’s like having a sulky teenager in charge. Heaven help us.
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@strathmore , l think taxation ‘should’
be the simple way to deal with profiteering
But how do you tax a multi national corporation that has been designed
specifically to avoid taxation ??
Price capping would need to be done at the point that the product is sold
to be effective, ( at the auctions) ?? Is this possible ??
Is the ‘world market’ concept we are operating under at fault ??
If France can look after it’s people then why can’t the Westminster lot do something too. OR, do they all have shares in the energy companies and they would lose money.
France to force EDF to take €8.4bn hit with energy bill cap | EDF Energy | The Guardian
I guess that the French government see this as relatively straightforward. EDF is a state company and is both the producer and the distributor of electricity. There is not the artificial market for energy that the UK created in order to put energy in the private sector and created multiple businesses with the idea that they would compete with each other in order to bring prices down. That has not quite worked, has it?
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So, of the two candidates which one do you think will get the job?[poll type=multiple results=always min=1 max=1 chartType=bar]
- who do you think will become the next PM?
[/poll]
See, I’ve messed it up, tried to do a simple poll but the minimum and maximum confused me, I just wanted 2 straight choices, Sunak or Truss.
Poll with multiple choices has invalid parameters.
What does that even mean??
Why does everything on here have to be so flipping difficult
Ouch!! Remind me not to try and mix it with you. Good analogy though
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She’s right profit isn’t evil.
However when people may well have to pay with their lives … there’s something very wrong .
You want a true blue tory Truss is for you, a true red Labourite, Hmm, I think you’ll have to look to the past.
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Ha ha - you could be right
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My guess is that the Tories suspect they’re going to lose their majority in the next GE and see no need to put anything but a fall guy in place, who they can stitch up in a few years (won’t take much as she’s doing a fine old job of it even now) and get rid of, by which time a proper contender will have hopefully emerged. Rishi is expendable for a variety of reasons, and him losing is only to make Truss appear credible, which she obviously isn’t.
As for energy companies seemingly making an absolute killing, time will tell how much they actually reinvest in renewables et … But it seems pretty obvious that if everyone in the country has to give them more, then they’ll have less cash to give other sectors such as retail, at which point everyone suffers even more.
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As you predicted, the U-turn is on its way!
Renewable power companies will have their revenues capped in England and Wales, after the government bowed to pressure to clamp down on runaway profits.
On the leadership trail, Liz Truss repeatedly resisted calls to cap huge profits being generated by power companies, after Boris Johnson’s government imposed a £5bn windfall tax on oil and gas companies in May, taking a slice of their profits.
The business department said it was stepping in with a temporary “cost-plus revenue limit” for renewable and nuclear electricity generators in England and Wales. This will curb the amount generators can make, “allowing generators to cover their costs, plus receive an appropriate revenue”, and will come into force at the start of next year.
The detail was contained in the government’s new energy prices bill, which limits power prices for households at an average of £2,500 a year and is estimated will cost taxpayers about £89bn. It has been estimated that taxing generators such as wind and solar farms could raise between £3bn and £4bn to help offset some of this cost.
Am I missing something … 
How is a “revenue cap” the same as a "windfall tax?
Isn’t “taxing generators such as wind and solar farms” not only ‘anti-green’ but also defeating the object of the UK becoming ‘self-sufficient’ in energy.
Why are the “big boys” being left “out-of-control”?
Those who sell energy direct to consumers are not making huge profits right now (hence why many went bust). The BIG money is made by the oil and gas producers (some of whom are the same firms). However that isn’t regulated by Ofgem - even if it regulates the retail wing of the same company. Therefore the decision on what’s legit there is in the government’s bag not Ofgem’s."
BP recently reported its biggest quarterly profit for 14 years. The energy giant saw underlying profits hit £6.9bn between April and June - more than triple the amount during same period last year, reports the BBC.
British Gas owner Centrica and Shell have also posted huge profits due to rising energy prices. Centrica’s half-year profits were five times higher than a year earlier - rising to £1.34bn from £262m a year earlier - for the six months ending in June. Meanwhile, Shell reported record profits of $11.5bn (£9bn) for the April-to-June period.
Renewable energy generators and nuclear power plants could have their revenues capped under a new Government plan to ensure they are not benefitting from record-high energy prices. Without releasing much detail, the Government said it would try to break the link between high gas prices and the amount made by electricity producers.
The Government said the price of gas decides the price of electricity, so as gas prices soared over the last year, many of Britain’s wind farms and solar farms were paid a lot more than normal for their products, even though their costs had not increased very much. The Government said it planned to introduce a “cost-plus revenue limit”, but provided little detail about how this would work.
The Government also did not say whether cheaper gas generators and coal power plants, which also benefitted from the current set up, would be affected by the new rules. “The precise mechanics of the temporary cost-plus revenue limit will be subject to a consultation to be launched shortly,” the Department for Business, Energy and Industrial Strategy said.
As usual, no “detail” from LT’s fourth-form economics study group … 
@Omah , It seems that the word " racketeering"!has been replaced with the word
“profit” which is different thing altogether ?
What is taking place now is “racketeering” ! Pure and simple .
The government seem to support it ? 
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Indeed they do … all for “growth” … 
Keep going Liz, every move you make is bringing you closer to getting the well deserved boot. 
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Only a matter of time before they deal with those fat cat house owners who not only had the audacity to put solar panels on their homes to reduce their own fuel bills, but also had the cheek to sell any excess power back to the grid for a few miserly pennies. These people need to be stripped of their assets, thrown onto the streets, and have their children press ganged into becoming chimney sweeps.
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That’s not what they want to hear … 