Reply To: Climate, the science, politics, economics and anything else


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#78471
Clark

“Having so many companies “providing” gas is scam. They are just speculators”

I know they don’t supply gas, but is speculation all they do?

They have loads of customers, and they like to charge by direct debit. Often their bills are based upon “estimates” (as they like to call them) of usage. So, at any time, if they increased their estimates by say 3%, they’d take 3% more by direct debit from tens of thousands of customers. They’d have that “real” money, moved from a multitude of customers accounts and accumulated in their own. It wouldn’t be debt or invented money; it’d be money their customers had worked to earn. It would be their cut of their customers’ time and effort.

Now I know nothing about finance so I may be guessing the wrong term here, but might they be selling “liquidity” or something?