Timmy elsewhere

At the ASI:

Ken seems to have forgotten that there are costs involved in buying wholesale and selling retail.

11 thoughts on “Timmy elsewhere”

  1. My guess is that the RECs are getting their electricity at wholesale prices lower than TfL so his model needs to be even leaner than theirs.

  2. London Transport, the forerunner of TfL, used to generate its own electricity. Perhaps Ken could ressurect the Lots Road power station. He could fuel it with cheap oil obtained through a barter deal with Venezuela.

    Go on ken, show us how socialism works, or not, as the case may be. Let’s run the capitalism versus socialism experiment once again, as in East Germany vs West Germany and North Korea vs South Korea. Good luck! Fortunately I don’t have to live in London.

  3. The guy is a self-seeking, loud-mouthed, professional politician of the very lowest calibre.

    And the competition is hot down at the lowest level.

    When a guy like Sugar tells him to get on his bike….

  4. Tim, you’re wrong about the logistics – this wouldn’t involve physical power transmission, it’d just involve setting up as a power retailer, like Virgin Energy or British Gas or any of the other non-incumbents. But yes, it’s hard to imagine that TfL Electric would get wholesale power any cheaper than British Gas or EDF do.

    (also, ‘hasn’t run a business’ seems a bit of an odd claim given that talk over the course of the campaign seems to have focused primarily on the amount of money Ken has made from his business and the amount of tax he has and hasn’t paid on it…)

  5. ‘hasn’t run a business’ seems a bit of an odd claim

    Not really. Although legally indistinguishable, passing your earnings for media appearances through a service company, legitimate but politically careless, it isn’t quite the same thing as “running a business”.

    Even if you do pay for a couple of Labour party researchers from the proceeds.

  6. Aha, but TfLeccy as a nationalised (Londonised?) concern won’t be making all those big nasty profits. More mars bars for the common man, fewer champagne baths full of nubile hookers on superyachts for the nasty exploiting bosses. That’ll be the argument anyway.

  7. Performing a service for multiple clients for money and employing people to help you do this doesn’t count as ‘running a business’? Blimey.

  8. @John b: I think Ken Livingstone is on record as saying he basically didn’t have clue how his finances worked, and he just passed everything on to his accountant. That was his defence for not having a clue how much he had earned, and/or how much tax had been paid, where and when.

    Not the best person to be trying to run such a complex business, or even oversee someone else running it either.

    Edit: here is the article:


  9. Perfect Tim. Bad debts, call centres, hell even sending out the bills and processing payments all adds up. Of course, being guvmint he can hide a lot of the cost in the existing public service I suppose.

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