price cap and windfall tax

[torque2me]

Originally Posted by macafee2

price cap, I thought a price cap was the maximum energy companies can charge for gas and electric.

windfall tax, government proposes windfall tax on energy companies profits.

my conclusion, price cap to high, government are trying to look good by taking money from energy companies while still allowing energy companies to keep a massive profit, to give back to us instead of lowering price cap and energy bills and reducing amount of profit energy companies can make.

Is my conclusion wrong?


As energy is a problem why don't the government mandate all new builds should have solar panels?


macafee2

Retrospective taxation is a no no for any decent society and government. Gordon Brown tried a retrospective tax for CO2 vehicles. Remember the billions Shell and BP will lose when they decouple from their Russian partners. I bet Sunuk glosses over that one when they could easily report losses. Remember Horizon?

Would you invest in something under terms and conditions that you accept and them t&c's change and instead of paying 20% tax on your profit it is upgraded to 40%. You would not be chuffed. BP and Shell are free to take their investment money elsewhere with the loss of that taxation.

Kev