Author Topic: Energy companies pass on Carbon Emissions cost to customers  (Read 3961 times)

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The Prophet

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Energy companies pass on Carbon Emissions cost to customers
« on: October 11, 2011, 12:55:51 pm »
The Climate Change Act was passed by the House of Commons in October 2008 by 463 votes to 3. 
The government's own estimate is that it will cost £404 billion to implement, that is £760 for every household every year for the next 40 years.

It should be noted that China and USA together produce around 40% of global emissions compared with just 2% in the UK and are committed to nothing!

The EU deemed that industries should pay a "tax" for burning fossil fuels. What followed were European Allowances aka Carbon Credits each relating to a ton of carbon dioxide.
The idea being the worst polluters would have to buy additional credits.

But as we know most have just passed this additional cost on to their customers, with electricity prices rising by as much as £300 for the average household.

Indeed EDF even state that 6% of electricity charges and 3% of gas charges are for "Social and Environmental costs" 
- Contributions to government initiatives to reduce carbon emission and help vulnerable customers (insulation subsidies)
and Vat is added to this as well!


Philofacts

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Re: Energy companies pass on Carbon Emissions cost to customers
« Reply #1 on: October 13, 2011, 11:54:04 am »
Wholesale energy Prices are about the same as they were in March 2011
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Philofacts

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Re: Energy companies pass on Carbon Emissions cost to customers
« Reply #2 on: October 13, 2011, 11:54:55 am »
EDF energy breakdown of energy costs
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Sadie20

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Re: Energy companies pass on Carbon Emissions cost to customers
« Reply #3 on: October 14, 2011, 08:58:08 am »
The "Social and Environmental costs"  added to bills mean that households are all paying through their energy bills as well as with other taxes.

The energy companies are also using the "Standing Charge" as a way of incresaing our bills.
This has nothing to do with the "wholesale price" of gas or electricity. See how much this has gone up over the last few years.

Not only that but it is guaranteed revenue for the Big energy firms as it is not related to usage.

The Prophet

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Re: Energy companies pass on Carbon Emissions cost to customers
« Reply #4 on: October 24, 2011, 08:45:03 am »
Energy prices likely to increase even further. With QE devaluing the pound, imports become more expensive.
In addition, inflation is eroding the real value of your income and savings.

Most people would now be better off going for a fixed-rate tariff.
Scottish Power offers a three year fixed-rate called Fixed Price Jan 2015 which would cost the average UK household £1,214 a year.
EDF's Price Protection 2014 fixes until June 2014 and the average household would pay £1,200 a year.