£2,500,000 fine - will the shareholders put their hands in their pockets and divvi this up or do you reckon the customers will end up paying? 🙄 Perhaps the customers should make a complaint...
I know governed bodies should be punishable by watchdogs but how do you penalise them without actually just ending up penalising the customers?
If it's anything like the fines handed out by the regulator in my industry, it has to come out of company profits, cannot be passed on to the customer.
£2.5m is such a drop in the ocean in terms of their turn over I don't expect there is a way of adjusting their price to the customer by such a small increment.
Centrica plc interim results are announced tomorrow and Bloomberg is forecasting an increase in the dividend, which would give you your answer. On the other hand the shares are down today, but then so is everyone else.
Edit: £15.7M customers and a £2.5M fine = 0.16p each. They can add mine to the bill.
I used to work in accounts for Centrica/BG. Beleive me its a drop in the ocean. They also hold provisions for all sorts of stuff, and just like any organisation, its a wonder what you can do with a bit of simple creative accounting.
