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Originally Posted by ianch99
Which only shows what happens when you apply free market dogma to national infrastructure services. When companies that are motivated by profit and shareholder returns are created in an artificial "free" market, it can never end well. The same story is seen in the water sector where it is probably worse.
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How on earth would a publicly owned company have performed better?
Same costs involved. The taxpayer would've had to subsidise consumers long before now.
The bigger companies are surviving because they are bigger and have the "cash", which a publicly owned company wouldn't have.
How much money do you think the taxpayer would have to splash out with a publicly owned company with 20 times the customers, rather than one with 1.7m customers.
Link
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Justina Miltienyte, an energy policy expert at Uswitch, said the failure of Bulb signalled the "tipping point" of the UK energy crisis. "Ultimately this demise wasn't caused by a badly run business model. Instead, Bulb was choked off by the way the government decided to structure the current energy market with the price cap."
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Profits?
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According to Bulb's latest available accounts, in the year to 31 March 2020 the company made losses of £63m. It also had a £55m loan facility due for repayment on 31 December this year.
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