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Bord Gáis profits up but 100,000 customers in arrears, are they overcharging?


Podolski1.5

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It was reported today that Bord Gáis, the state-owned energy company, had a 29% increase in its pre-tax profits for 2012, some €121 million. At the same time the dividend from Bord Gáis to the state has fallen by almost €10 million to €23.8m.

Dividend from Bord Gáis down by nearly

At the same time the company has over 100,000 of its customers in arrears, with many of them now tied to payment plans and some 62,000 customers who have been given pay-as-you-go meters.

The Company has several large increases in its prices to consumers over the past years despite the recession when people's incomes have fallen significantly in real terms.

Is it time for the government to force Bord Gáis and other energy companies to bring their prices down? Is it time to bring in a social price for those on limited means who still require heat and cooking power?

Clearly the price of gas and energy in this country has increased dramatically over the past few years, despite the discovery of significant oil and gas off our coast and the increasing amount of wind energy (free after the infrastructure has been created, apart from maintenance costs). In my view this is all about Privatisation of companies like the ESB and Bord Gáis and keeping the price up to make buying into these companies attractive to investors.

The privatisation of utilities is about profiteering and always leads to increased costs for consumers. Social aids such as fuel allowances and free units for the poor will eventually be taken away. Time to scrap the privatisation plans and return the social element to utilities.
 


Socratus O' Pericles

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It is being fattened up for partial privatisation:
The Government plans to raise between €1-1.4 billion from the sale of a chunk of Bord Gais Energy – business which will be one of the largest ever sales of publicly owned assets on Irish shores. The sale is expected to go ahead towards the end of 2013.

Bord Gais Energy is responsible for the supply, transmission and distribution of natural gas in Ireland and has approximately 1 million customers.

The sale is expected to attract plenty of interest from overseas – with some of the the larger UK utilities expected to bid as well as Chinese and Middle Eastern investors. They will all see the sale as a significant opportunity to invest in assets which would otherwise have remained in public ownership but for the economic downturn and banking crisis. Of course – they will all be thinking of how to maximise the profits that can be made from the Irish consumers.
Privatisation of Bord Gais | Money Guide Ireland
 

EUrJokingMeRight

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In the price gouging centre of the the universe ie Ireland, I've personally never known a company need such sizeable price increases more frequently than them 'gas' lads.

Seriously, they'd put hyperinflation to shame.
 

Pat Gill

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In the price gouging centre of the the universe ie Ireland, I've personally never known a company need such sizeable price increases more frequently than them 'gas' lads.

Seriously, they'd put hyperinflation to shame.
Some background figures to help make up your mind.

 

SPN

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One assumes that they are building reserves to pay for the rollout of water meters.
 

Telemachus

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The workers in Board Gáis are overpaid, I would not sell it off, I would ban collective bargaining in such organizations and impose cost cuts unilaterally, workers not complying would be fired and replaced by some of the hundreds of thousands on the dole.
 

Pat Gill

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The workers in Board Gáis are overpaid, I would not sell it off, I would ban collective bargaining in such organizations and impose cost cuts unilaterally, workers not complying would be fired and replaced by some of the hundreds of thousands on the dole.
There are more sub contractors in Bord Gais than employees, did you glance at the table above ?
 

Telemachus

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There are more sub contractors in Bord Gais than employees, did you glance at the table above ?
Bunch of glorified plumbers.
 

Socratus O' Pericles

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Idid ,I find them hard to follow (perhaps I'm innumerate) but it looks like were fairly cheap for gas?Anyways a large chunk of BGE is being privatised. I don't think the neo thatcherite agenda will come into play though.
 

Socratus O' Pericles

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If I am reading it correctly it is extraordinarily cheap in Sweden?
 

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