Quote:
Originally Posted by nomadking
The parent companies earn money from all around the world, and from various activities. Any profits the parent companies make, do not belong to the supplier companies, unless the profits are from the supplier company. If would be unfair competition, if a large multinational could use profits from elsewhere to undercut their competitors.
So they are all working in concert? What supposedly massive profits are the supplier companies making?
Octopus 2021 £85m LOSS.
SSE/OVO 2020 £7m LOSS
EDF 2020 £154m LOSS
During the height of covid, in one US oil market, the price was negative, ie they would pay you to take the oil. Not always a reward.
And Germany is looking at adding a 500 or 1,000 Euros annual levy.
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So they offshore the profits into parent companies to reduce tax liability?
I’m not sure this is the quick win you thought it was when you took to the keyboard.
Are they all working in concert? Potentially. However the market is so fundamentally flawed they could independently be price gouging consumers because rationally - with no risk - they can maximise their profits that are completely unlinked to the cost of energy supply.