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Originally Posted by nomadking
 Garbage.
The problems have been caused by "socialising" the industry with people not paying what it actually costs. The businesses are being forced to provide energy at a LOSS.
The £1.7bn represents the extra that Bulb customers should have paid. It is the CUSTOMERS who are being subsided by the taxpayer. |
I think what is "garbage" is that we, the tax payer, has to pay £1,000 a customer to keep Bulb afloat.
£1,000 a customer? Why the UK is counting the cost of keeping Bulb’s lights on
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“Pretty much all the suppliers still able to operate had sourced gas and electricity from the wholesale markets at least a year ahead of time to hedge against a major market shock,” another industry source said.
“In short, Bulb came undone because it hadn’t bought its energy in advance, it didn’t have enough investment to cover the costs and the government’s price cap meant it couldn’t push bills higher either,” the source added.
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If they want to be a private company, they should be wound up when they get it wrong.