Thursday, February 21, 2008

Profits up 500%? What a gas..

Just had a call from Kent on Sunday. Like most right-minded people, they too are disgusted by the news that British Gas, just weeks after hiking their prices by 15%, they have announced profits up 500% on 2006.

They made the point, quite rightly, that the rise in fuel prices would hit older and vulnerable customers worst, and asked for my comment.

With the Government set to begin decommissioning North Sea platforms this year, Britain's domestic supply is fast running out. In the meantime, however, I made the point that Government should step in to regulate this largely monopolistic market.

Local government too, could play its part. I felt it odd that councils should be paying companies to collect and take away domestic waste simply to drop into holes in the ground - particularly when the technology exists to convert this waste into energy. I said "I may be a bit mad, but surely if the seven county councils in the South East got together, we could reprocess this waste on a large enough scale to be feasible, even if we redistributed the fledgling green energy to one specific market - say elderly people."

"I like that quote" said the reporter as she finished our conversation.

What's the betting that the headline will say "KCC Cabinet Member admits to being a bit mad"?

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