The energy bosses drowning in black gold
The Story
The Times
3.9 • 1.6K Ratings
🗓️ 17 August 2022
⏱️ 29 minutes
🧾️ Download transcript
Summary
Energy prices have become a national crisis. But for the energy companies, things have never been better. Surely something has to give?
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Transcript
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| 0:00.0 | Hello, I'm Adam Vaughn, the Times' Environment Editor. |
| 0:02.8 | At this October's Earth Summit, the Times and Sunday Times are bringing together |
| 0:06.2 | some of the UK's top people in sustainability from science to business and government. |
| 0:10.9 | The aim is to make more businesses more green and more profitable. |
| 0:15.2 | How do we revolutionise supply chains? How do we get green investment? |
| 0:19.4 | What opportunities are there when businesses work in an environmentally friendly way? |
| 0:24.0 | Find out by registering at TimesEarthSummit.com. |
| 0:30.3 | Energy prices have become a national crisis. |
| 0:42.3 | But for the energy companies, things have never been better. |
| 0:48.1 | Our heating bills this winter could rise by £200 more than previously forecast. |
| 0:53.3 | Energy consultants now think the whole basis for the price cap needs reviewing, |
| 0:57.1 | adding it's not working for consumers, suppliers or the economy. |
| 1:00.8 | British gas owners CentroCo recorded half-year profits of £1.3 billion. |
| 1:05.8 | British Energy Giant Shell has announced record profits of more than £7 billion. |
| 1:13.6 | BP made profits of £6.9 billion, a 14-year high. |
| 1:19.8 | From next January, the price cap on household energy bills will be four times what it was two years |
| 1:29.4 | earlier. According to forecast this winter, a massive jump up again, in excess of £3,000 |
| 1:35.2 | a household. But what's really scary about this is not how high the prices are but how long they're |
| 1:41.0 | going to enjoy. The petrol pump is the perfect metaphor for it because you sit there and you watch |
| 1:45.0 | your money just disappear. Bills are rocketing to unaffordable levels. |
| 1:52.2 | Meanwhile, energy companies are raking in record profits. Surely something has to give. |
| 2:00.9 | You're listening to Stories of Our Times from the Times and the Sunday Times. I'm Manvian Rana. |
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