How Can They Justify Such Massive Price Increases?

[Bobbisox1]

https://news.sky.com/story/energy-giants-shell-and-centrica-enjoy-soaring-profits-as-prices-rise-12660367

[ladybirder]

Better get on the phone to my Stock Broker.

[Canary42]

That's how Capitalism works.

[douglas9401]

Capitalism and pretend 'watchdogs' you mean.

[andy-hughes]

They don't have to justify it.

They are a competitive company who answer to shareholders, not customers.

[Ellipsis]

https://www.investopedia.com/terms/l/law-of-supply-demand.asp

[bobbinwales]

Yes soemone here is profitting, just a sthe big supermarkets and petrol statiion chains are profiteering knowing people will assume its all down to Ukraine and world oil prices etc.
It seems in Centricas case that although theres a big increase in profits theres actually been a fall in profits the British Gas part of it.
Hopefully Sunaks extra profit tax (where did he get that idea from I wonder, lol) will claw back some of it, and the remaining profits may help my pension fund claw back some losses!

[youngmafbog]

//Friends of the Earth energy campaigner Sana Yusuf said the bulk of Shell's profits "should be used to insulate our homes and help cash-strapped households pay for their heating this winter, rather than developing more fossil fuel projects that roast the planet."//

Not a ruddy clue. Its thanks to the ridiculously aggressive net zero policies we are in this mess and beholden to Russia.

[Redhelen72]

The whole point of having a company is to make money!
What do you expect them to do - give it away?

[Untitled]

They've got the rest of us by the short and curlies... and as others have pointed out, as they are not held in the public interest and are not democratically accountable, they will happily exploit the rest of us for the benefit of their shareholders.

[andy-hughes]

Why on earth should Shell be responsible for the people of the UK? That's the government's job, they just don't do it.

[Old_Geezer]

It's the old Thatcherite, "Greed is good", slogan.

Morals have little to do with it. The government should ensure there are limits to customer abuse, if they can be bothered.

[bobbinwales]

Its odd though that so many energy suppliers went out of business as they couldnt make it financially viable no more due to rising raw energy costs and the price cap.

[schippiegalette]

Its Capitalism, the other alternative is Communism.
That doesn't work

[douglas9401]

Nonsense, it's not a binary choice.

[schippiegalette]

Nonsense, we don't have a choice. Big Companies make money, they should be taxed. Don't castigate them for making money, castigate the government for not collecting Taxes.