EON WATCH

EON: Concerned for the consumer?

In Angles on December 21, 2008 at 6:55 pm

Despite placing themselves as guardians of the consumer eon state that they wont pass on gas price cuts.

EON‘s UK arm made £650 Million in the first 9 months of the year, but according to CEO Paul Golby that isn’t enough.

“Profits are not high enough to match the cost of capital needed for investment, for example in new plants. I accept that the group profit figures we report look large, but we need capital to invest.”

More on the energy industry and it’s love of protecting consumers:

This clearly doesnt prove that renewables are cheap but it does show that energy companies do anything for money. Other articles will back up there fear of innovation and there incentives for keeping energy demand high when energy saving would be cheap for consumers.

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