Re:CERN drafts plans to idle accelerators due to Europe’s en...
by pbhjpbhj on Tuesday September 06, 2022 @12:24PM
(#32739366)
Example, report in the papers 2 days ago local restaurant struggling to justify staying open as their energy bill (gas+electric) went up 7x (£60k last year, predicted £420k this year).
So, that 65% tax on profits really isn't doing much, it's passed on to customers. Tax rises only make sense here with capped prices.
Re:CERN drafts plans to idle accelerators due to Europe’s en...
by pjc50 on Tuesday September 06, 2022 @12:10PM
(#32739128)
This article is reporting EBITDA numbers: https://www.huffingtonpost.co.uk/entry/energy-prices-rising-...
What I would like to know is how that handles amortization? Especially for renewables where the capex is huge and the opex small. Is that a before or after amortization number?
The prices quoted are absolutely crippling, though. I wonder if people would actually prefer a 1970s style rolling blackouts to having two thirds of small businesses go bankrupt.
With the new energy profits levy introduced in July, the headline tax rate for oil & gas profits is now 65%, which is some way off letting the energy companies keep their profits.
What the UK is doing is letting its energy companies make bank while prices are high, and taking a (temporarily enhanced) cut of that to fund a cost of living subsidy for consumers.