The boss of Norwegian energy giant Equinor has said he does not expect gas and electricity bills to return to the levels they were before Covid.
In recent weeks, in part due to warmer than usual weather across Europe, gas prices have returned to where they were before the Russian invasion of Ukraine. Mr Opedal spoke to the BBC before attending the World Economic Forum in Davos, Switzerland which is an annual gathering of political and business leaders. The theme of this year's meeting, which takes place from 16-20 January, is "Cooperation in a fragmented world".
The scheme also lets firms claim tax savings worth 91p of every £1 invested in fossil fuel extraction in the UK.
NATIONALISE NATIONALISE NATIONALISE
Take it the Government won't do anything
Wholesale gas price is now at pre war levels. They're butt fooking us all
Despite wholesale prices having dropped back down.
We should all stop paying as energy companies aren't aloud to turn off your electricity or gas. Bet they would reduce prices then.
Obviously!
Name and shame him..
Greedflation comes to mind. ofgem failing to do their job and no doubt the likes of British gas will applaud this why have no doubt made obscene amounts of money. The UK has become greedy and will pay the price in the long run EnergyBills energy
Quelle Surprise!
Of course he did the greedy kant
Greed we all know they can reduce our bills
Perhaps that’s the real price of contributing to the ClimateCrisis
Just so they can continue to make billions while we all struggle with heating cost and the general rise in the cost of living. The energy should be capped to an affordable price for the general public.
No we can’t afford them
Because they are robbing bstards
The prices of whole sale gas and electricity has fallen to pre-Covid times other European countries prices are 1/4 to 1/5 of U.K. UK is a rip off nationalise them stop the misery and suffering of people
Yes he says, because of a/the costs of moving to 'greener' (and less reliable?) energy. b/ the cost of windfall tax (putting off investment.) Both things the BBC etc AND LABOUR pushed for. Take note, everyone!
My gas bills are double each week to that of last year (pay as you go smart metre.) Despite my having heating on lower in the face of the colder weather. Wearing fingerless gloves & scarfs inside. gas EnergyBills
So why are you reporting on this outrage with so little critical context eg comparisons with price caps in other EU countries, and how this is not a windfall tax at all because it excludes main profit sources and allows off-setting. This is a national scandal, a moral outrage.
Why when the cost of gas has severely dropped in price?
Of course, Tories are getting back handers from energy companies. Part of the 2nd phase of mass MURDER this winter.
So, we Brits are being fleeced to pay into Norway's Sovereign Wealth Fund. No complaints to Norway getting maximum revenue from company extracting their oil wealth. So why aren't we?
Of course he does! Legalised racketeering with government turning a blind eye!
It’s greed and the British government needs to sort it with higher taxes on these companies which is handed back to us.
Wait, what, thought my energy was 100% green energy. Has wind got more expensive
And what a smug smile he has when you open the article and see the photo that goes with it, don't even need to read it to know hes laughing at us all freeezing.
What goes up must come down…Unless it’s bills.
Wow that’s a surprise… imagine the inflation being transitory…except it isn’t…
Why though when gas prices are decreasing? How is it right that companies are having record profits while the consumers are struggling?
Time to nationalise the lot of them get a government that’s got the balls to say to them get stuffed
They will come out with some bollocks about buying up future energy
Disgusting money grabbing
There is a chance to have this rich energy boss taxed fairly to ease the burden on consumers at the next election.
Yeah greed while people die cheers.
While all the energy companies are making billions wherethe majority of the country are struggling, yep sums this Government and country up.
Ahh, the joys of privatisation. Cant wait till the Tories finish selling off the NHS
Imagine not getting their current bonuses every year, dreadful isn't it
Why? If the cost to them has dropped surely that just means they unjustifiably make higher profit margin?
Here we go again😡
Imagine thinking they were ever coming back down
'We're happy screwing you' energy bosses
Why wholesale prices have been dropping? The cost of living crisis has been created to benefit the wealthy
It's the private sector under the stewardship of the tories that has led to this energy crisis. Greed and un safe planning. We have coal got rid of to early! We have gas and oil which we the uk buy off the international market ! While France own there energy and pay much Less!
Surprised arnt we
Oh course the high energy prices are here to stay, look at all the profit they're making from us
Oh what a surprise. “Wow, people are paying these crazy prices! Amazing! More money fr us. Who cares!”
And as long as we let them they will.
when the energy price increase, they charge triple. when the energy price fall, they still charge you triple :D
Meanwhile, energy companies are making 'record profits'... 🙃
I guess windfall taxes will be here to stay as well then.
Yes because every step in the energy market is living the extra profits. Govt needs to tax super profits. Regulators need to limit prices.
Nationalise
Now there's a surprise!
Of course there’s profit to be made
Inside the energy boss's house next winter
We should eat him
Greedy
100% tax on profits for these energy companies until domestic gas and electricity is back under £1,500 average per year. Government are complicit in this robbery.
Record profits here to stay too I bet....
Who could have possibly seen this coming.
Sounds like we need a new energy boss. Also, to protest.
‘Energy boss warns higher ‘profits’ are here to stay’… change one word and it changes the whole picture
Energy boss warns that letting them get away with price gouging means they'll keep price gouging.
Even though wholesale costs have fallen...
Windfall tax the c*nts until they squeak.
The beatings will continue until morale improves
Cause they are....who turns down free money, same with fuel prices, interest rates and food prices these things are predetermined
Still think Tory privatisation was a good idea?
We are being robbed, plain and simple
So…..if renewables are now so much cheaper, and we’re expanding renewables, how come?
Welcome to agenda 2030. They need us poor so that we own nothing
Don't expect us to pay it then
I see they intend to keep riding this wave at our expense.
Investment doesn’t come up front from charging customers, it comes from investors, who are then repaid over time and make a profit once the infrastructure is paid for and still earning. Do we all get shares for our investment bills?
This has political answers; Westminster politicians are just unwilling to do it.
Sounds convenient. Well as long as the energy companies can benefit from the UkraineRussianWar and the CostOfLivingCrises at our expense 🤷
Unfettered Capitalism seeks to destroy its host shocker
Why is that.
Straight to energy bosses for their view:
Then start taxing the energy companies more. Or nationalise it all.
Interesting flex, considering that the UK taxpayer already subsidises the fossil energy industry.
renationalise energy asap
So basically, we all freeze to death?
there's a surprise. - the regulator has gone very quiet, on the news everyday to justify high process, nowhere to be seen now prices have tanked
Why?
So they've liked the influx of free money and want to keep it?
Natural Gas is cheaper than 11 months ago? In the UK prices go up as 🌎 prices have gone up. However, when the 🌎 prices go down the UK prices don't follow it. Is it something to do with the lack of government oversight of greedy PLCs? Or do they donate enough to Conservatives
Simply robbery. Time to renationalise them all!
Of course the boss will say that. My questions is WHAT THE FUCK IS THE UK GOVERNMENT GONNA DO ABOUT IT.
Of course they are The fat cats at the top have seen record profits. The government's not going to stop them while a majority are pocketing money aswell..
'Purveyor of gas says we should all keep buying gas'
Time to privatise then 👍
The rich get richer and massive bonuses while the rest of us struggle, cut down on food shopping, rack up credit cards, the goverment should be ashamed of themselves, and the gas directors. Cut there wages down to the national average and see how they get on.
How else can poor companies earn more and be taxed less?
Comfortable with their bonuses then?
It took me 20 years to get out of shared houses and bedsits in order to live a reasonable lifestyle (I still can't afford to buy and run a car) and what your saying is you want us just to go back to living in poverty?
Energy companies are getting used to milking public like cows 🐄
Why?
Eff off.....
Deal with it peasants.
Utter rip off !!!
Lining up the next set of excuses..
Why not Wholesale Gas prices are now back to pre Ukraine 🇺🇦 invasion prices… so in six months prices should drop back to normal levels unless these companies are proffering!!
Of course it is. When the honey keeps on flowing, why would they want it to stop 😒
WHY?! GREED
Just gonna leave this here to show that equinox made billions In PROFIT last year.
Everything will remain higher
so when oil prices go up, bills go up, but when oil prices go down, bills stay up. got it. Theives.
time to riot
Always some excuse to keep prices (and profits) high.
Why? The wholesale price is falling. They mean higher profits are here to stay.
If they keep taking massive bonuses and massive profits as a company then prices must go down
Feels like Energy companies rinsing the people! Public may soon find alternatives to eat and heat and Energy companies greed may just not work out. Camper Stove- eat, Calor Gas - heat!
If this is going to be the case, then maybe people should just get Calor Gas heaters for a couple of rooms and use electric/gas as a minimum, so they no longer getting money out of us.
And the bbc is complicit. Who would of thought companies paying more tax would charge more for their product. Bbc created this mess demanding the the government imposed the windfall tax on the energy companies. Now we’re all paying the price
Lower the profits
Always the same …..hike them up and we all panic, bring them down a fraction and we all breathe a sigh and accept the new norm ….it will be the same with fuel prices ….you’ll never see the pre Ukraine war prices of energy or fuel again …no matter what wholesale prices are !
Energy boss warns fabulous profits are here to stay
Of course the energy bosses say this, they're making literally billions from ripping us off. Disgusting people.
No surprise there. Once they’ve got you paying high bills they were never going to let them go backwards. As being as they all piss in the same pot they will work together to keep the prices up.
Energy boss needs to get real.
Re-nationalising is the key to our future lower energy costs, but I wonder if Starmer will have the guts to do it if he gets into power? We're being ripped off to pay overseas investor bonuses.
Don't expect price gouging by supermarkets and manufacturers to stop anytime soon either
Yet wholesale gas price just dropped?
Then it's time we nationalised them and not pay a penny in compensation
Same old bullshit whining....windfall tax affects investment....we don't fall for that crap anymore.
Why though the cost of fuel leveled out ages ago? Couldn’t just be that they want obscene profits right? I swear to god this country.
Racketeering!
Tory donors insist that the greatest robbery of the public will continue as their people won’t do feck all about it Robbery
have the energy bosses considered this?
Ahh there's the excuse to keep prices up - thanks a bunch. Gov needs to be taxing these companies for excess profits and subsidising our bills thank you.
C**ts
Don't ever remember Sid telling us about this!
If that’s the case then it’s unrealistic by government to expect people to accept that there is “no money” for pay increases. And unrealistic to expect people to cope somehow and live in cold houses and rely on food banks.
weird isn't it, how when commodity prices go up, bills go up, but that this doesn't work in the other direction I'm sure there are rational market-based reasons for this
Haven’t prices just dropped below pre Ukraine levels Yet my electricity and gas and have increased another £70 a month… highest electricity prices in the world to subsidise these companies profits RENATIONALISE OUR OWN ASSETS SOLD OFF AT COST PRICE!
Why when gas and oil prices are falling why are our energy prices not falling as well.
kevinhollinrake RishiSunak Gibbo4Darlo How come , when they have been in power for 13 years , the UK public pays the highest energy costs in Europe ? …. By a long way !
wow who could have seen that coming!?
Just don’t vote Tory. It’s all we can do. This has now simply turned into profiteering
Have you noticed this? Wholesale price goes up = retail price goes up. Wholesale price goes down = retail price stays the same. Someone's making money and it's not you.
Profoundly evil stuff! Wholesale gas prices have fallen, but don't let that get in the way of fleecing the most vulnerable for massive profits, lads
Great Just what i need last week 2nd new type of cancer confirmed today been getting Warm home discount for quite a few years benefit the same but this year not elegable do you think the council will mind if i build a fire in my bungalow 🤣🤣😠😠
Of course they are, he has to keep up his big bonuses somehow!
Who expected any different
Of course they are, it’s called profiteering! 🙄
Coz they are enjoying the money in their pocket
Pure profiteering
Energy boss can Frak Off!
Won't anyone think of the poor struggling energy company 🥺🥺🥺🥺🥺
There are 2 things here, they have got away with crazy prices so why would they go back down, they love the money, The other thing is to force people to accept alternative ways of getting power because they won't be able to pay for the traditional ways anymore.
Translation: we love the extra profit, thanks guys ❤️
One simple trick to keeping the nation warm!
Of course they are. They don’t want you to have it.
What a surprise! Thieving bastards🤬
Someone probably needs to take one of these guys heads off as a warning to the rest.
Of course, they’ve all got used to new Lambourghini every day
In news that no one could see coming! Nothing else to be expected after the clear protection racket for energy from the government
Disgusting,wholesale prices are dropping like a stone, so within the next 12 months our prices should revert back to what they were,competition in the market should increase. It is the energy firms insufficient investment in previous years that means they now have to invest.
Once go up, never go down 🤷♂️
Scum
Course they are! … Robbing bastards!
Kunts
He would do - the government are allowing energy companies to do it ! DetestToryValues
There was no justification to make hefty price increases over last year. The government say they cannot force the energy companies to reduce the prices but they can condone the massive profits being made. A reduction in the prices will assist the majority of the users.
How the absolute hell is this allowed to happen?
Of course private companies will want to continue extracting as much profit as they can. They care for shareholders, not the bill payer. Time for Government intervention on a mass scale. Build new generation under public ownership and people can transfer.
Bill payer warns energy boss he's a c**t and prays for the downfall of his lot
Not for long when people stand together and stop paying thier bills by the masses
Of course they are the profit is only getting bigger
Of course
It's just another tax. You're paying for the switch to 'green' ( 😜🙄🤭) energy.
Think of the shareholders🙄
Energy matters should be addressed in almost every part of the world. Meanwhile, you (/bbcworldservice), RoyalFamily, BritishCouncil, UniofOxford and Cambridge_Uni may think about helping the ANGLOPHONE NATIONS by promoting ACCURATE ENGLISH PRONUNCIATION MATERIALS.
That's a surprise!
So too, NATO's proxy war on Ukraine.. defundwar
When have companies ever put prices down?
Investment is supposed to be made by the person who will reap the future profits, it is not supposed to be paid for by the customer in advance of receiving the service for which it is intended to enrich shareholders So they want you to pay for the capital investment twice.
Energy companies must have ofcom and government in their pockets 🤦♂️ 🧟♀️ 🇬🇧 🧟♂️
The government are conditioning people to use less by upping the price so people can’t afford to use it.They are trying to ‘change behaviour’ with energy use as said by Jeremy Hunt himself. The prices will never come down. All part of the net zero scam
How is that possible when we just had our best month using renewables in the UK?
Oh wow look…. The public beg for renewable energy to save the planet….then get upset when they realise it requires millions of pounds of investment to make it work. Where’s the story?
Profiteering, if the price falls nearly everywhere except here we are stupid putting up with it.
Nobody will do anything about with this daylight robbery 🤦♂️ Once upon a time, we used to push back now..... We've become a 🧟♀️ 🧟♂️ nation, too scared and frankly unmotivated
For the good of their shareholders 🖕 so let's bring them into public ownership
Monopoly chooses to fleeces the public, with full support from the Tory Government.
That doesn’t make sense? Wasn’t the reason for high prices the war? But prices are coming down already?
Greed
“The problem is that we really like your money because being rich is nice, and nobody in government cares to stop us, so unfortunately the reality is that we’re going to keep robbing it off you”
As if we didn't know we all get fooled and used its happened before. What a corrupt country we live in. There's no need for it to happen.
When anything increases in price it NEVER comes back down to a manageable level! Seriously need to look at emigrating I just cannot afford to work and struggle
Two words: Windfall tax!
Also, it’s now dearer to run an electric rather than petrol car for long journeys. We’re being shafted. Didn’t take long for capitalists to exploit that market
World beating
We need to call for a election asap. We are the people we are the power. Why are we letting these greedy politicians steal our money in front of our eyes and we the people the majority do NOTHING. Peeps need to make a stand and the only way is to stop spending but we can’t 🤦♀️
Kerching! Thanks Western war machine!
The corruption and greed of the worlds governments and wealthy elites is staggering. Why are we the people standing for it? Revolution is the only way forward now, these people need pulling from their homes and throwing in prison never to be released. Crimes against humanity.
UK being mugged off again. We deserve it to be fair. Sold the utilities like a game of Monopoly to other EU states who now hammer us but not their own citizens. Nice job?
Said this when it all began the prices won't drop again, and it's here to stay. They has no intention of ever bringing them back down, and the government will probably withdraw funding for low income families.
'The tax applies to profits made from extracting UK oil and gas, but not from other activities such as refining oil and selling petrol and diesel on forecourts' Record profits last year from companies further down the supply chain!
Only one way to stop vote
Yeah. Well done to the electorate for voting in the tories who are the party of corporations, tech giants, energy companies plus much much more. We pay the highest electricity bills in the world. Tories will love that, keeps everyone working
Who ever thought that the extortion would end?
No one likes to see a downturn in profits, so it makes sense to keep the prices high...
Lovely the quest to reach net zero will impoverish millions but as long as they make money who gives a fuck
Energy boss confirms plans to rob the public.
Time to nationalise energy companies.
The energy companies are still making millions in profits, its about time we had a non profit energy company, wouldn't that be a modern day miracle.
Well well well, who would have thought that! 🤔
Renewable electricity shouldn’t be tied to the gas price anyway. As it isn’t in many other countries. But while it is the government claws more in the 5% VAT.. so no incentive to separate.
Greedy fuckers.
Fire up the coal power stations
Ahhh yes, of course he’s happy taking his massive salary and profits while people can’t afford to heat their homes, hope he’s proud of himself.
Why? The price of gas has come down to buy. Stop ripping us off. Needs to be renationalised as a priority.
As are the food banks in this Tory Utopia
God forbid energy companies make *slightly* lower profits….
Because he loves to take from the poor so he can stay rich - he was advised by the Sherif of Nottingham
The energy boss can get stuffed
Of course they are, they need to make millions of the back of people
if that's the case they should get rid of the electric/gas price match, charlatans
Robbing bastards
profiteering on the back of the death and demise of the public.
So you can keep your multibillion £’s profits 😡😡😡
You watch - the next 3-monthly price change (end of March) the prices will will go up again; even though the gas prices are (currently) going down & 50% of electric is being generated by wind. Why? 'We pay for energy months in advance'. More profits.
The energy companies are ripping us off the wholesale gas price is back to pre war and pre pandemic levels we are being ripped off by a government who wants to act like China and North Korea and run the parliament like the Kremlin tories out now before we lose all our rights
Greed
Profiteering pure and simple.
Sheer and utter Greed
The conservatives backed ofgem working well.
Funny how nobody is moaning that he’s saying the costs are high to pay for ‘new forms of energy’ basically the costs will remain high BECAUSE of the ridiculous notion of net zero.
That Swiss ski lodge isn’t going to pay for itself now is it.
I wonder how many people moaning on this thread are also advocates of Net Zero?
‘Energy boss warns the insanity is here to stay’
Utter scam. Killing us off one by hundreds.
Can't afford to heat? Who cares But make sure you pay for your ENFORCED Green credenitals !! What a joke.
Of course they’re here to stay. Do we really think these guys want to back away from getting record profits every quarter? These tossers have a taste for it now.
The fact he can sit there and say energy prices will remain high, while his company makes £20bn a quarter is staggering. Yes costs will remain high while the energy sector places it's profits well in front of its customers or its responsibility to transition to renewable energy.
And yet the unit price of energy as the companies buy it have returned to their pre-Ukrainian war prices…so the energy companies can make obscene amounts of money while people of all ages can slowly freeze and live in the dark. It’s not good enough taxtheprofits ToryCorruption
Energy Energy Latest News, Energy Energy Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BBCScienceNews - 🏆 87. / 53 Read more »
Source: Glasgow_Live - 🏆 4. / 97 Read more »
Source: OilandEnergy - 🏆 34. / 68 Read more »
Source: OilandEnergy - 🏆 34. / 68 Read more »
Source: ShropshireStar - 🏆 98. / 51 Read more »
Source: ShropshireStar - 🏆 98. / 51 Read more »